44th Parl. 1st Sess.
March 27, 2023 11:00AM
- Mar/27/23 2:25:57 p.m.
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Mr. Speaker, the trickle-down is his. He wants to take away everybody's money, centralize it in his own hands and promise that it will trickle down through his mighty bureaucracy and all the prodigious interest groups that gobble it up. There may be a few little drops that get down to the people who actually earned it in the first place.
When I first said that deficits would cause inflation, all the experts disagreed. Now they all agree with me.
In fact, even the finance minister has now come around to my view, admitting that deficit spending causes inflation. That is why people are paying more than at any time in 40 years.
Will he cap government spending and put an end to the inflationary deficits tomorrow?
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- Mar/27/23 2:34:29 p.m.
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Mr. Speaker, since forming government, our government has reduced poverty in this country by 56%. That is 2.7 million Canadians, mostly seniors and children, who are better off because of our government. We have done that by increasing investments in affordability. These are investments in things like child care, dental care and health care. We are well positioned for the future, with our debt-to-GDP ratio and our deficit lower than those of any other country in the G7. Canadians themselves have produced over 830,000 jobs since the start of the pandemic.
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- Mar/27/23 2:37:04 p.m.
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Mr. Speaker, it is a pleasure to remind the member opposite that it was our government that reduced taxes for the middle class not once but twice, and reduced taxes for small businesses not once but twice.
While inflation is a global phenomenon, we in Canada are very well positioned to take care of it. We have the lowest net debt-to-GDP ratio in the G7. We have the lowest deficit in the G7. That is going to allow us to continue to invest in Canadians, in good, sustainable, clean jobs, and in making life more affordable.
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- Mar/27/23 2:39:13 p.m.
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Mr. Speaker, I really appreciate my colleague's question. As he knows full well, inflation has continued to decline in Canada over the last eight months. We have the lowest deficit and debt-to-GDP ratio in the G7.
We were able to manage Canada's finances responsibly over the last few years. We were there for Canadians in those tough times to help them make ends meet.
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- Mar/27/23 2:52:13 p.m.
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Mr. Speaker, earlier this month, the governor of the Bank of Canada warned that the recent pause on interest rates was dependent on limited government spending. Excuse my skepticism, but Conservatives know of, and Canadians have witnessed, record uncontrolled deficit spending.
Will the government, in tomorrow's budget, commit to no new spending, or will it continue its reckless tax-and-spend policy, risking higher inflation and more interest rate hikes?
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- Mar/27/23 2:52:43 p.m.
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Mr. Speaker, our plan is not just making life more affordable for Canadians, it is also to be fiscally responsible. Canada has reconfirmed our AAA credit rating. We have recovered 126% of jobs lost during the pandemic, while the United States has only recovered 114%. We have the lowest deficit and the lowest net debt-to-GDP ratio in the G7. This positions us very well going into the next budget to get inflation under control, improve affordability and create sustainable clean jobs.
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- Mar/27/23 3:00:25 p.m.
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Mr. Speaker, after eight years of this Prime Minister, former bank governor, Stephen Poloz, now says that Liberal deficit spending drove up inflation. The current bank governor said the same thing last fall. If he will not listen to us, maybe the Prime Minister will listen to the bank governors.
Inflationary Liberal spending and taxes drive up the cost of everything. People cannot afford to eat or even heat their homes. To make matters worse, now the Liberals are going to triple the carbon tax.
I have a simple question. Will the Prime Minister commit to no new taxes?
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