44th Parl. 1st Sess.
December 7, 2022 02:00PM
- Dec/7/22 2:23:13 p.m.
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Mr. Speaker, the member opposite knows very well that the Bank of Canada is an independent institution.
It is true that this is a difficult time for Canadians. It is not true that the investments that we made in Canadians have caused inflation. One need only look at the report of the former governor of the Bank of Canada, Stephen Poloz, which indicates that our investments prevented a period of deflation.
Within the hour, the Leader of the Opposition will have the opportunity to help Canadians by supporting Bill C-32 to implement the support measures set out in the the fall economic statement.
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- Dec/7/22 2:24:31 p.m.
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Mr. Speaker, I would be careful if I were the member opposite. He asked people to listen to his advice, when his idea to hedge on inflation was to go buy crypto. Shame on that advice. It is irresponsible and not appropriate.
We are going to eliminate interest on student loans and apprentice loans. We are going to make it more affordable to buy a house. We are going to get workers the money they need faster. In one hour, the Conservative chorus can sing with us and support Canadians, or it can do what it has always done and vote against it.
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- Dec/7/22 2:32:40 p.m.
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Mr. Speaker, as the hon. leader of the New Democratic Party knows, the Bank of Canada is an independent institution that has been tasked, since December of last year, to get inflation back down to 2%.
The bank is doing its job. We are doing our job, which is making sure that we have the fiscal firepower to face what is to come, investing in Canadians and supporting the Canadians who need it the most. That is why we are helping Canadians to buy a new home, advancing the payments for workers' benefits and making sure that student loan interest gets removed forever.
This is the right thing to do. It is the responsible thing to do. It is why we hope that all parties vote with us on Bill C-32 today.
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- Dec/7/22 2:34:03 p.m.
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Mr. Speaker, we greatly respect the efforts that working men and women are making to build a prosperous Canada. We know that Canadians are going through a difficult time during this global inflationary cycle. That is why, here in Canada, the Bank of Canada is independent. Its role is to reduce inflation to a 2% target rate. As the government, we take action to put money in the pockets of Canadians who need it, when they need it.
That is why it is essential that every member of the House vote in favour of supports for Canadians and help us by voting for Bill C‑32.
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- Dec/7/22 3:06:16 p.m.
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Mr. Speaker, I thank my colleague from Dorval—Lachine—LaSalle for her question and her hard work.
With the increase in the cost of living, our government has been quick to act and provide support to Canadians who need it. We are continuing this support with our fall economic statement and Bill C‑32 by including the elimination of interest on student loans. This will help students and new graduates. We will ensure that Canadians have money in their pockets.
The Conservatives can support us here within the hour by voting in favour of Bill C‑32.
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- Dec/7/22 3:08:49 p.m.
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Mr. Speaker, I would direct my hon. colleague to a Scotiabank report that says very clearly how our investments in the pandemic had no effect on inflation.
In fact, let us look at the Auditor General's report, which said this:
We found that the COVID-19 programs achieved their objective to help Canada avoid a more severe contraction of the economy and the social consequences of...a significant increase in poverty. This financial support allowed the economy to rebound and return to its pre-pandemic level.
That is the job of a government. That is what we did. The Conservatives do not like it, but Canadians sure do.
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moved that the bill be concurred in.
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