44th Parl. 1st Sess.
May 19, 2022 10:00AM
- May/19/22 11:45:35 a.m.
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Mr. Speaker, I rise on a point of order. I very much enjoy the speech that is being given, so I regret to interrupt, but the member did refer to a term that, at least in English, you have ruled to be out of order, and that is using the Prime Minister's name in conjunction with the word “inflation”. At least, through the translation, it came across in the way it is regularly used.
Perhaps the member could rephrase that.
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- May/19/22 1:17:14 p.m.
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Madam Speaker, between that and “just inflation”—
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- May/19/22 2:11:02 p.m.
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Mr. Speaker, inflation is not like the weather. It is not something that just happens like a snowstorm in May. The inflation that Canadians are suffering from today is a direct result of the deficits the Prime Minister racked up, bankrolled by the money printing of the Bank of Canada.
When the Prime Minister ran out out of other people's money to borrow, he turned to the bank, and the governor was only too happy to oblige. The Bank of Canada created over $400 billion in brand new money to purchase the government bonds to pay for the out-of-control Liberal spending.
Any time we get more dollars chasing fewer goods, we get inflation. The decision to bankroll the government's deficit spending undermined the bank's independence. It has one main mandate: to keep inflation at 2%. It has completely failed and Canadians are right to demand accountability.
To restore the bank's independence, the leadership at the bank needs to stop acting like it is the Prime Minister's personal ATM. As Milton Friedman said, “Inflation is always and everywhere a monetary phenomenon”. We cannot expect the Prime Minister to know that. He brags that he does not even think about monetary policy.
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- May/19/22 2:28:37 p.m.
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Mr. Speaker, last month, inflation hit a 31-year high at 6.8%. Meanwhile, wages increased by an average of just 3.3%. I doubt anyone needs a diagram to understand the resulting decrease in purchasing power.
The worst part is that while the big chains are making hundreds of millions of dollars in profits, everyone's grocery bills are going up by 9%. More and more families are turning to food banks.
When will the Liberals tax the excessive profits of big grocery stores and oil companies?
When will they double the GST tax credit?
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- May/19/22 2:29:17 p.m.
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Mr. Speaker, we know that inflation is partly caused by Putin's illegal war in Ukraine. That is why we are focusing on affordability for Canadians.
We have cut taxes for the middle class twice and raised them for the wealthiest 1%. We created the Canada child benefit and made sure it was indexed to inflation.
We have been focused on affordability.
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- May/19/22 2:29:53 p.m.
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Mr. Speaker, I find it interesting that when we bring up inflation, the government likes to talk about things it did five or six years ago, but the fact of the matter is that we are experiencing record inflation now.
We are experiencing that in a context in which a number of companies, including oil and gas companies right now, are receiving huge windfalls. The question is this: Is the government prepared to tax that excess profit and return it to Canadians in the form of an additional GST rebate or not? Yesterday we saw the Liberals side with the Conservatives to vote against a measure like that.
We want to know, are the Liberals going to get with the program and provide relief to Canadians now?
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- May/19/22 2:30:37 p.m.
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Mr. Speaker, we know that inflation is taking a toll on the lives of Canadians and their pocketbooks. That is why, once again in this tax season, the basic personal income amount has grown again: another 500 bucks in the pockets of Canadians. A family right now that has been able to take advantage of our child care benefit in Alberta will save almost $6,000 a year. We have indexed the Canada child benefit to inflation.
We are focused on affordability and the needs of Canadians.
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- May/19/22 2:31:11 p.m.
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Mr. Speaker, the last time we saw the price of groceries jump 10% was in 1981, when another big tax-and-spend Liberal prime minister was in office. What was his name again? It is like déjà vu.
Doug Porter, the chief economist at BMO, said that inflation “is spreading much more broadly, and at clear risk of getting firmly entrenched”.
Will the Liberal government acknowledge today that its big tax-and-spend policies are entrenching inflation? When will it start to address the cost-of-living crisis that we are in?
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- May/19/22 2:33:11 p.m.
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Mr. Speaker, we know that inflation is affecting the lives of Canadians, and that is why our budget stepped up to the plate. I know the Conservatives do not like it that we have been delivering for Canadians for seven years. I know it offends their sensibilities, but the reality is that in our budget we have dental care for Canadian families, a doubling of support through the first-time homebuyers credit, a multi-generational home renovation tax, and 500 bucks to those concerned with housing affordability.
Some hon. members: Oh, oh!
Hon. Randy Boissonnault: Mr. Speaker, they can scream and shout. We are going to keep delivering for Canadians.
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- May/19/22 2:33:54 p.m.
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Mr. Speaker, yesterday we learned that inflation has reached 6.8%. The last time it was that high was 31 years ago in 1991.
This year, Canadians are paying 10% more for groceries than they did last year, and that is not to mention skyrocketing gas prices.
Will the Liberal government take real action now to address the rising cost of living that all Canadians are currently experiencing?
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- May/19/22 2:34:34 p.m.
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Mr. Speaker, I respect my hon. colleague's question.
We know that inflation is affecting the lives of Canadians. That is why we once again increased the basic personal amount in budget 2022. That means that Canadians will keep hundreds of dollars in their pockets starting this year. We reduced taxes for the middle class, while raising them for the wealthiest 1%. We indexed the Canada child benefit to inflation.
We will continue to focus on affordability. While the Conservatives seek to block the business of the House, we are focusing on making life more affordable for Canadians.
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- May/19/22 2:35:14 p.m.
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Mr. Speaker, inflation keeps going up and the government keeps doing nothing about it.
Gas prices across the country were at over $2 a litre this morning and the price of diesel keeps going up. It is 35¢ more than it was just a month ago. This is having a direct impact on the cost of transportation, which automatically affects the cost of consumer goods, including groceries, which everyone needs.
I will repeat my question. Will the government get its hands out of its pockets, start working for Canadians and lower the cost of living for once and for all?
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- May/19/22 2:35:56 p.m.
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Mr. Speaker, we well know, as do all Canadians, that inflation is caused in part by Vladimir Putin's illegal war in Ukraine. That is why we are focusing on affordability for Canadians.
In budget 2022, we proposed dental care for Canadians, doubling the tax credit for purchasing a home, and a one-time payment of $500 for seniors.
We will continue to focus on affordability. While the Conservatives focus on picking fights, we are focusing on the lives of Canadians.
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- May/19/22 2:52:23 p.m.
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Mr. Speaker, we are seeing 30-year-high inflation. A single dad in my riding tells me he was looking at an illegal 18-by-18 foot rental unit for $1,500 a month and competing with dozens of others.
My daughter and her husband rent in east Vancouver. Their small one-bedroom has no storage and no parking for $2,200 per month. How can young people save for a down payment on a house when their entire pay is going to rent and food?
When is the government going to get serious and help working Canadians with this cost-of-living crisis?
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Madam Speaker, I will let the member for Abbotsford explain what he meant, but this bill is about accountability and oversight. This bill is about empowering the Auditor General to provide the same type of oversight role that he or she provides for every other government department, agency and Crown corporation. That is what this bill is all about.
When it comes to the performance of the Governor of the Bank of Canada, the Bank of Canada has only a few core mandates, one of which is to keep inflation low, at 2%. Inflation has been well over 6% for several months now. Every other Canadian who missed the target by such a massive range would face some kind of accountability. It is not to punish the guy or get even with him, but on behalf of Canadians, they deserve to have a Governor of the Bank of Canada who understands that printing money during a period of economic contraction leads to inflation. It is that simple. This—
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- May/19/22 7:45:10 p.m.
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Madam Chair, the government is increasing spending on expensive consultants to fix the problems of expensive consultants, while public servants are being offered wage increases that do not even keep up with inflation.
Does the minister believe hard-working public servants who have delivered for Canadians throughout the pandemic deserve wage increases that account for the rising cost of living?
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- May/19/22 7:45:58 p.m.
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Madam Chair, does she believe they should be able to be paid and given wage increases to meet inflation and the new cost of living?
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