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Decentralized Democracy

House Hansard - 93

44th Parl. 1st Sess.
June 21, 2022 10:00AM
Context: House Hansard - 93 - Jun/21/22
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Jun/21/22 2:33:50 p.m.
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Mr. Speaker, let us talk about the verdict of some objective experts when it comes to Canada's government policy. I am going to start with S&P, the ratings agency whose job it is to judge fiscal responsibility. After I tabled the budget in April, S&P confirmed Canada's AAA rating with a stable outlook going forward. Let me also point out that Canada, today, is tied with the U.S. for the fastest rate of fiscal consolidation in the G7, that means bringing down the deficit. That is fiscal responsibility, and it is appropriate.
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Context: House Hansard - 93 - Jun/21/22
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Jun/21/22 2:36:32 p.m.
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Mr. Speaker, let me take another opportunity to point out to Canadians listening to us that Canada is tied with the United States in the G7 for the fastest rate of fiscal consolidation and the fastest rate of bringing down our deficit. Canadians know inflation is a global phenomenon. It is driven by Putin's war in Ukraine. It is driven by China's COVID-zero policies. I will give some numbers to back that up. Our latest inflation number is 6.8% in Canada. That is lower than the U.S., which is at 8.6%; Germany at 7.4%; the U.K. at 9.0%; and the OECD average of 9.2%.
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