44th Parl. 1st Sess.
December 7, 2022 02:00PM
- Dec/7/22 2:22:29 p.m.
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Mr. Speaker, Canadians were hit with yet another interest rate hike today. The Bank of Canada imposed that hike, but it had to do so because of this government's inflationary deficits. Even the Governor of the Bank of Canada indicated that the deficits are increasing inflation, which in turn leads to higher interest rates.
For a family that bought an average house with an average mortgage, that is $7,000 more in interest a year. That is impossible. The more the government spends, the more Canadians pay.
When will the Liberals stop making Canadians pay?
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- Dec/7/22 2:23:50 p.m.
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Mr. Speaker, Canadians were hit with another interest rate uppercut today as inflationary deficits by the Liberal government are driving up inflation and interest rates. The Governor of the Bank of Canada has even said these deficits are driving the higher cost. One mother told the CBC that she signed into a 1.9%, variable rate mortgage because she believed the government when it said that the rates would be low for long. She now says, “I should punch myself on that decision. Why did I listen to all these people?”
How is this mother going to pay the extra $1,000 a month in mortgage payments they are putting on her back?
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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 2:34:40 p.m.
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Mr. Speaker, the wasteful spending of the Liberal government knows no bounds. Yesterday we found out that the Liberals paid out billions of dollars in COVID payments to people who were ineligible. Rather than accepting their mistake, they implied that the Auditor General cannot be trusted. However, it is Liberal waste that is causing the cost of living crisis in this country.
When will the Prime Minister take responsibility and stop the inflationary spending so Canadians can put food on their tables and heat their homes?
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- Dec/7/22 3:03:08 p.m.
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Mr. Speaker, that answer just proves that the Liberals are completely out of touch with reality. The reality is that the vast majority of Canadians will not see a cent from the programs they have announced. We are talking about the basic necessities of life.
Poor Liberal policy and reckless inflationary spending are going to cost Canadians an extra $1,000 on their groceries next year. That is an over 10% increase on food prices. A family of four is going to be paying more than $16,000 next year on groceries alone.
Will the government give Canadians a break and axe the carbon tax?
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- Dec/7/22 3:08:13 p.m.
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Mr. Speaker, we have seen $52 billion in new inflationary spending and $500 billion in deficits in just two years. Yesterday the Auditor General reported that $32 billion in overpayments and suspicious payments just went out the door. The Governor of the Bank of Canada said that if Liberal spending had been less, inflation would have been lower, and today interest rates went up by another half a per cent.
The Prime Minister's big spending is now hurting Canadians. Will he stop the spending, stop the waste and get inflation under control finally?
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- Dec/7/22 3:09:25 p.m.
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Mr. Speaker, the job of the government is to make sure it is affordable for Canadians to pay for the essentials of life.
It is the job of the government to make sure the price of groceries does not rise by $1,100 next year. It is the job of the government to make sure it is not forcing Canadians to make a choice between heating their home and eating. Yesterday we heard the Auditor General talking about $4.6 billion going out to ineligible recipients.
Will the Liberal government stop its inflationary spending so that Canadians can afford to put gas in their tanks and food on their tables, and so they can heat their homes?
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