44th Parl. 1st Sess.
October 26, 2022 02:00PM
- Oct/26/22 2:47:56 p.m.
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Mr. Speaker, Canadians are now getting the bill for the Prime Minister's $500-billion inflationary deficit. Today, interest rates are being raised again. A family that bought a typical home five years ago with a typical mortgage that is now up for renewal will pay $7,000 more a year.
The Prime Minister said that the government was taking on debt so that Canadians would not have to. Who is going to make the extra mortgage payments?
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- Oct/26/22 2:49:19 p.m.
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Mr. Speaker, Canadians are now getting the bill for the Prime Minister's half trillion dollars of inflationary deficits that first drove up inflation and now drive up interest rates. A typical family who bought a typical home with a typical mortgage five years ago but are now up for renewal are paying $7,000 more per year.
The Prime Minister said the government was going to take on all this debt so that Canadians would not have to, as if they do not have to pay back government debt. If that were the case though, who is going to pay the extra mortgage payments for these families?
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- Oct/26/22 2:50:39 p.m.
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Mr. Speaker, the Prime Minister caused this inflation crisis. Even Mark Carney, who will be the successor to the current Liberal leader, is saying that inflation is a homegrown problem. He is right. It is caused by the half trillion dollars of inflationary deficits that have bid up the cost of the goods we buy and the interest we pay.
Today, rates went up another half point, meaning many families will be handing in their keys to the banks, because they will not be able to afford those bills. Has the Prime Minister been briefed by his officials on how many Canadians will lose their homes because of the higher interest rates that his inflationary policies have caused?
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- Oct/26/22 2:52:03 p.m.
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Mr. Speaker, what they have come to expect of this government is that it raises the cost of living. The cost of government is driving up the cost of goods and now the cost of interest.
Two hundred billion dollars of the half trillion in deficits had nothing to do with COVID, according to the Parliamentary Budget Officer, and even that so-called COVID spending included the ArriveCAN app, an app that could have been designed in a weekend for a quarter of a million dollars but cost $54 million. The government claims that $1.2 million of that went to a company called ThinkOn. That company says it did not get that money. Who did?
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- Oct/26/22 2:53:26 p.m.
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Mr. Speaker, the Prime Minister cannot tell us who got the $1.2 million. He blames public servants for the mistake. Surely in the week since he learned of this misappropriation he could have found out where the money went, but he has not.
That is not the only example. There was also the $400,000 trip to London, for which there was a $6,000 suite for one night. It is just another example of the massive Liberal waste that has contributed to the inflationary deficits we now face.
If he cannot tell us which company got the money, can he at least tell us who got the $6,000 a night room?
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