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House Hansard - 179

44th Parl. 1st Sess.
April 18, 2023 10:00AM
Context: House Hansard - 179 - Apr/18/23
Mr. Lloyd Longfield (Guelph, Lib.)
  • Apr/18/23 12:31:09 p.m.
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Madam Speaker, the member mentioned the interest rates being applied by the federal government. Interest rates are applied by the Bank of Canada, and the federal government responds through policies and programs like those we have in budget 2023, which are targeting the vulnerable people affected by interest rates. In fact, this morning, we had great news that our inflation rate is down to 4.3%, which is down from 8.1% last June. Even more impressive was that gasoline prices have actually fallen, year over year, for the second consecutive month. Could the member tell the House how targeting programs working with the Bank of Canada to get inflation under control is precisely what this budget is doing?
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Context: House Hansard - 179 - Apr/18/23
Mr. Doug Shipley
  • Apr/18/23 12:32:06 p.m.
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Madam Speaker, the biggest concern is, quite frankly, that people listened to and believed the Prime Minister when he stood in front of the country and said that inflation rates would remain low for a very long time. He should be someone Canadians can look up to, believe and respect. Obviously, in this case it did not happen and rates have gone up drastically. People are now struggling. In my community, they have locked in on those rates. I personally spoke with a bank manager who said there are many families right now on the verge of losing their homes because they did not think rates would go up that much. People were told by the Prime Minister to hang in and lock in, and that rates would remain low. They did not, and Canadians are struggling.
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