Ambrose promises Conservative MPs will hold the Liberals to account as the government plans to increase spending and run deficits in order to stimulate the economy.
Robert-Falcon Ouellette told constituents at the event on Saturday that former Speakers told him the job allows for "great influence" with the prime minister.
Mulroney reminded his audience of the Tory party's long, painful climb back to power after its crushing electoral defeat at hands of Jean Chretien's Liberals.