44th Parl. 1st Sess.
December 8, 2021 02:00PM
- Dec/8/21 2:24:38 p.m.
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Mr. Speaker, more than a quarter of Canadians have mortgages with a variable rate. The number of high-leverage uninsured mortgages is more than 25% according to the Bank of Canada. The bank suggested today that it would raise interest rates soon. Some experts predict five interest rate increases next year.
How many thousands of families are at risk of losing their homes because the Prime Minister has ignored the inflation crisis?
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- Dec/8/21 2:25:11 p.m.
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Mr. Speaker, we are extremely concerned with the rising cost of living faced by Canadians. This is why we have a concrete plan to take action on that, whether through investing in child care, investing in more supports for Canadians or putting forward the most ambitious plan on housing this country has ever seen, which includes $4 billion for municipalities to help build more supply. The Conservatives only offered tax breaks for Canada's wealthiest landlords in the last election campaign. Canadians need solutions. That is what we are delivering, not the Conservatives.
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- Dec/8/21 2:25:48 p.m.
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Mr. Speaker, higher inflation means higher prices for families. Prices are 21% higher for apples, 22% higher for bacon and 33% higher for a house. The Prime Minister said he has a concrete plan, but the government has not committed to keeping the 2% inflation target as part of the bank's new mandate. Keeping the 2% inflation target is the bare minimum the Prime Minister could do to fight the cost of living crisis.
He talks about a plan and being there for Canadians. My question is simple. Will the government mandate the Bank of Canada to maintain its 2% target, yes or no?
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- Dec/8/21 2:26:33 p.m.
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Mr. Speaker, even though the Conservatives are offering the bare minimum, we are interested in offering much more to Canadians. Yes, we will renew the mandate of the Bank of Canada, but we will also continue to step up with record investments in housing and with things such as the rent-to-own program, a municipal accelerator that is going to put more housing across the country, and more supports for rural Canadians with respect to housing. We have a concrete plan to invest in housing. The Conservatives only offered massive tax breaks to wealthy landlords as their solution to the housing crisis. That is not what Canadians need.
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- Dec/8/21 2:27:11 p.m.
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Mr. Speaker, Canadians should be worried when the Prime Minister and the finance minister will not answer a simple question about fighting inflation by keeping the 2% target. What are they going to do for Canadians who are struggling? The Prime Minister does not think about monetary policy. He does not think about interest rates. He thinks budgets will balance themselves.
How bad does the cost of living crisis have to get before the Prime Minister gets a grip?
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- Dec/8/21 2:27:42 p.m.
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Mr. Speaker, while the Conservative Party flails around and offers personal insults, we are focused on Canadians. We are focused on investing tangibly to counter the housing crisis. Whether it is $4 billion for municipalities, investment in $10-a-day child care right across the country or support for seniors or young families, we are there. We will continue to be there for Canadians while the Conservatives play political games and throw mud.
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- Dec/8/21 2:28:17 p.m.
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Mr. Speaker, inflation has never been as bad as it is now.
Inflation means that everything goes up, especially the cost of fruit, meat, housing and gas. The list is long, and Canadians are worried.
This government has not yet given the Bank of Canada a mandate to maintain the 2% inflation target.
Will the government maintain the 2% target, yes or no?
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- Dec/8/21 2:28:46 p.m.
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Mr. Speaker, the opposition leader is well aware that we will be making an announcement about that soon.
The fact is that we are focusing on the challenges facing Canadians. That is why we are making massive investments in housing by helping municipalities build more units. We are investing in more child care spaces across the country and in helping seniors and youth. We are there to help Canadians.
All the Conservatives had to offer on the housing file was tax credits for the wealthiest Canadians so they could sell their buildings. That is not what Canadians need. We will continue to be there for Canadians.
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- Dec/8/21 2:29:29 p.m.
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Mr. Speaker, the new travel rules are different for everyone, depending on whether one travels by land or by air, in Europe, in the U.S. or, worse, in designated countries in Africa, and on whether one is entering or leaving the U.S.
Upon their return, travellers are facing public health restrictions that are reminiscent of “the place that sends you mad”, which even Asterix had trouble navigating.
Why will Canada not introduce procedures and rules that are reassuring, clear and reciprocal to those imposed by the United States?
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- Dec/8/21 2:30:08 p.m.
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Mr. Speaker, the COVID-19 crisis requires adjustments that are based on science and respond to different situations. Canadians are well aware of that.
They also know full well that our government will be there with the necessary measures to support them, whatever the situation. There are new rules in place, and I realize that it can be confusing for people who can and want to travel, but the vast majority of Canadians need us to do whatever is necessary to keep them safe.
That is what we have been doing since the beginning of the pandemic, and we are not about to stop now.
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- Dec/8/21 2:30:45 p.m.
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Mr. Speaker, we will clarify by imagining an example.
Let us say the Prime Minister travels to Egypt. On his way back, he goes through Paris to say hi to his pal Macron. He then hops over to Burlington before returning to Canada by road, ideally not by Roxham Road.
What with quarantines, tests at the airport, trips lasting more than 72 hours and subcontractors making house calls, can the Prime Minister tell us what rules he will be subject to, what tests he will have to take, what restrictions he will have to follow and when?
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- Dec/8/21 2:31:22 p.m.
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Mr. Speaker, anyone who has to travel or decides to travel will have to consult public health authorities to see what rules apply to their situation.
I do not think it is so hard to understand that every person who travels is going to have to take appropriate steps, and we have all the information to share.
The reality is that yes, it can be complicated. However, we have to be there to protect Canadians from the omicron variant and COVID‑19. We are going to make choices accordingly, to protect the vast majority of Canadians who are staying home and who want to finish the fight against COVID‑19.
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- Dec/8/21 2:32:05 p.m.
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Mr. Speaker, a recent analysis found that the price of homes in Montreal has increased by 21% in the past year. It is impossible for people to find affordable housing.
The Liberals say that there is nothing they can do about it. We disagree. The Liberal government has the tools to address this crisis. Why is the Prime Minister not doing anything to help people?
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- Dec/8/21 2:32:35 p.m.
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Mr. Speaker, I think the hon. leader of the NDP was not listening when we said that we do indeed have solutions. We can do things, and we are in the process of doing things to deal with the housing crisis.
We are investing billions of dollars with municipalities to speed up access to housing. We are launching rapid housing initiatives, creating various programs and expanding several others because we know how much we need to be there for people. We will continue to be there for people. That is what the government is doing.
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- Dec/8/21 2:33:15 p.m.
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Mr. Speaker, this Prime Minister’s actions come up short in the face of this crisis.
The problem is also that the Liberal government prefers to favour the ultrarich instead of helping people. Here is a clear example. The Peel basin is federal land in Montreal. Instead of using that land to build affordable housing, this Liberal government wants to hand it over to its friend and billionaire developer, Mr. Bronfman. Why does the government favour the ultrarich instead of helping people?
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- Dec/8/21 2:33:52 p.m.
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Mr. Speaker, we have come to expect personal attacks from the Conservatives, but it is a bit disappointing when it comes from the NDP.
The reality is that we are here to work with municipalities to invest in housing. We are here to work on creating more programs for affordable housing. We are here to partner with Montreal, with Quebec City, and with investors who want to build housing for everyone.
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- Dec/8/21 2:34:24 p.m.
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Mr. Speaker, the Leader of the Opposition summed up the situation very well. Inflation is hitting Canadians hard, and the Liberal government can no longer deny it.
One of the Bank of Canada's mandates is to keep inflation to 2%. Inflation is currently almost 5%, and everyone is affected. If the Prime Minister does not maintain the 2% target, Canadian consumers will once again pay for his mismanagement.
The question is very simple: Will the government maintain the 2% target, yes or no?
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- Dec/8/21 2:34:57 p.m.
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Mr. Speaker, the Conservatives know very well that the Bank of Canada's current mandate is 2%. There will be an announcement shortly about the renewal of this mandate.
In the meantime, I can reassure all Canadians that we will be there to help them. We will be there to help them access home ownership, to help them access $10-a-day child care, and to invest in youth and seniors. We will be there to help Canadians as we have been from the beginning.
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- Dec/8/21 2:35:32 p.m.
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Mr. Speaker, the Prime Minister's answer is in no way reassuring. The cost of everything is going up, and Canadians are seeing their purchasing power go down. Just talk to food banks, mothers and seniors to get a sense of how bad things are right now.
Will the Prime Minister guarantee that the Bank of Canada will maintain inflation at 2%? A yes or no will do.
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- Dec/8/21 2:35:58 p.m.
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Mr. Speaker, the member should know that the Bank of Canada is independent and that it must remain free from political interference.
Yes, we will continue to work with the Bank of Canada, within our jurisdiction, to ensure that Canadians are well served. That is why we are investing in housing, child care spaces, and help for seniors, young people and workers. We promised to be there for Canadians, even though the Conservatives wanted us to invest less in Canadians during this pandemic. We will always be there to help Canadians with what they need.
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