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House Hansard - 100

44th Parl. 1st Sess.
September 22, 2022 10:00AM
Context: House Hansard - 100 - Sep/22/22
Hon. Pierre Poilievre
  • Sep/22/22 11:10:30 a.m.
  • Watch
  • Re: Bill C-31 
Mr. Speaker, it is no surprise that institutional investors have been able to outbid everyday working-class Canadians for housing. Why? Because the government flooded the financial system with $400 billion of newly created cash. When it pumped that cash into the financial system, it went into mortgage lending. Who is preferred to borrow that money? Wealthy, well-connected institutional investors. They got their hands on that money and they used it to bid up housing prices out of the reach of the working class, meaning that young people, who not long ago would have been able to afford a home, are now permanent renters. We need to change this system. We need to stop the money printing, ensure that we have a financial and monetary system based on hard, sound money. Finally, we need to incentivize local government gatekeepers to get out of the way, deliver faster and more affordable building permits, so we can get houses built for our youth.
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