44th Parl. 1st Sess.
May 3, 2022 10:00AM
- May/3/22 11:41:50 a.m.
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- Re: Bill C-8
Madam Speaker, early on in my hon. colleague's speech he described Bill C-8 as delivering support where it is needed. I am wondering if he could comment on whether he agrees with the Parliamentary Budget Officer, who described this bill as delivering support that was not needed. Would he agree that it is feeding part of our present inflation rate?
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- May/3/22 11:55:14 a.m.
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- Re: Bill C-8
Madam Speaker, as we have heard from the Parliamentary Budget Officer, there is a concern that the spending contained in Bill C-8 and other aspects of the government's fiscal agenda is contributing to the inflation crisis that is driving up the cost of everything in this country.
I wonder if the member has any comments on the fact that this is not about politics or partisan opinion. Rather, very respected fiscal experts are suggesting that the spending found in Bill C-8 and some of the other fiscal frameworks that the government has set forward is contributing to the cost-of-living crisis that our country is facing. Is restraint needed to ensure that we address the continuing issue of inflation?
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- May/3/22 2:54:58 p.m.
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Mr. Speaker, my question today is on behalf of François et Josée, two young people from Charlesbourg. They hope to one day be able to buy a house, but mortgage rates continue to rise, which makes it more difficult to negotiate a first mortgage.
The Prime Minister would have us believe that inflation is a global phenomenon and that no government can control it. That is completely untrue. François and Josée tell me that the growth of their savings for a down payment on a home cannot keep up with the ever-rising house prices.
When will the Prime Minister take François and Josée's problem seriously?
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- May/3/22 2:57:29 p.m.
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Mr. Speaker, their party is the problem. The problem is inflation and they are the ones causing it. At 6.7%, inflation will cost Canadians an extra $2,000 this year. At the grocery store, Canadians are feeling the sting of higher prices, totalling an extra $1,000 this year. At the gas pumps, Canadians are paying 40% more than they were last year. The natural gas that Canadians use to heat their homes is up 19%.
These hard-earned dollars are being taken away from people just trying to get by. Why will the government not stop causing the problem?
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Madam Speaker, I would say that my hon. friend from Sherwood Park—Fort Saskatchewan is a little premature in his enthusiasm.
Has the hon. member thought about how much the Putin war is contributing to the rate of inflation with respect to oil, gas and commodities in multiple trillions of dollars? Has he thought about how the clogged supply chains, created largely by COVID, have contributed multiple trillions of dollars to increased prices? Has he thought about the pent-up demand created by COVID that created multiple trillions of dollars? Has he thought about the U.S. economy, which has an inflation rate considerably in excess of Canada's, and that being our major trading partner? Also—
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Madam Speaker, I would be glad to answer the member's question. I do not know if he was in this House for the full speech I gave, because I acknowledged that supply chains do have an impact on inflation and that rising commodity prices around the world, exacerbated by the war in Ukraine of course, do have an impact, but I also mentioned that housing affordability and the housing inflation we are experiencing today in Canada are largely a made-in-Canada phenomenon. That is backed up by many economists, and I think he knows that.
Let us be fair here. I acknowledge that some of the inflation that we experience in Canada is a global phenomenon, but a lot of it is driven by the actions of the current government in borrowing and spending in a way that is irresponsible.
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Madam Speaker, the thing the Liberals do not deliver on is affordability. They do not deliver on their promise to fight inflation. In fact, do members know what happens with the Liberal government? The biggest beneficiary of inflation and the affordability crisis is government revenues. Every step along the way, it gets another piece of the action.
This new legislation would allow the government to now charge GST on the assignment of real estate contracts. Therefore, if somebody buys a house, but is doing it on spec, and finds another buyer who is prepared to pay more, they can say, “Hey would you like to buy this? I will sell you the contract.” Well, is the government not going to take a piece of the action on that as well?
It does on gas. It does on carbon taxes. It is all the GST layered on everything that Canadians buy. At the end of the day, Canadians are the ones who pay the price, and the big beneficiary is the Prime Minister, who continues to bring in more and more government tax revenues and then spends that money wildly. That is unacceptable, and Canadians are going to call him on it.
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