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Decentralized Democracy

House Hansard - 120

44th Parl. 1st Sess.
October 28, 2022 10:00AM
Context: House Hansard - 120 - Oct/28/22
Hon. Andrew Scheer (Regina—Qu'Appelle, CPC)
  • Oct/28/22 11:20:12 a.m.
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Mr. Speaker, the Prime Minister told Canadians not to worry about his massive deficits and borrowing and spending, because he said interest rates would stay low for a very long time. Then he turned around and pumped $400 billion into Canada's banking system, causing prices to rise. Now, to fight the inflation the Liberals caused, the Bank of Canada has again jacked up interest rates. For the average mortgage in Vancouver, that means families will have to find another $1,900 a month just to stay in their own homes. Has the government been briefed on how many Canadians will have to turn their keys over to the bank as they struggle to pay these rising mortgage costs?
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Context: House Hansard - 120 - Oct/28/22
Hon. Andrew Scheer (Regina—Qu'Appelle, CPC)
  • Oct/28/22 11:22:56 a.m.
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Mr. Speaker, what we are against is the inflationary deficits that the government is causing. The reason prices are going up today is that the government flooded the banking system with $400 billion of brand new cash, and now Canadians have to pay for it. Again, and these are based on modest estimates from the Canadian Real Estate Association, a typical family in Ottawa will have to come up with an extra $1,000 a month when they go to renew their mortgage. Once again, has the government been briefed on how many Canadian families are going to lose their homes because of the Liberal-caused inflation?
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Context: House Hansard - 120 - Oct/28/22
Ms. Rachel Bendayan (Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance, Lib.)
  • Oct/28/22 11:38:52 a.m.
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Mr. Speaker, I think that my colleague is getting excited because next week we are going to unveil our economic update, which will be fiscally responsible. We have one of the lowest deficits in the world. Our deficit is 1%. We were fiscally responsible with our budget in April, and we always will be. We will be there for Canadians, to help them get through this period of economic instability.
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