44th Parl. 1st Sess.
May 16, 2023 10:00AM
- May/16/23 2:19:36 p.m.
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Mr. Speaker, not long ago, the Prime Minister told us that inflation was falling, and his finance minister said that deficit spending would simply pour gasoline on the inflationary fire.
A few weeks later, however, she did pour $60 billion of new inflationary fuel on the fire in her budget, at an additional cost of $4,200 to each Canadian family. Today we found out that inflation is rising again.
When is the government going to reverse this Prime Minister's inflationary policies?
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- May/16/23 2:20:17 p.m.
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Mr. Speaker, the reality is that inflation is going down. Inflation was 8.1% in June and 4.4% in April. That is a big difference.
The Bank of Canada expects inflation to reach 3% this summer and to drop below 3% by the end of the year. As for our economy, our AAA credit rating remains intact.
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- May/16/23 2:20:58 p.m.
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Mr. Speaker, she is the one who said that deficits add to inflation. In fact, she said that inflation and rising interest rates were related to the deficits, the same types of deficits that she was going to introduce a few weeks later in her budget. She added $60 billion of inflationary deficit spending.
In the Prime Minister's city, one in five Montrealers can no longer pay their monthly bills.
Will the Prime Minister finally give Montrealers and Canadians a bit of a break by eliminating these deficits?
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- May/16/23 2:21:41 p.m.
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Once again, the Conservatives do not want to talk about the reality of the Canadian economy.
The reality is that Canada has the strongest economy of all the G7 countries. We also have the strongest fiscal position and the lowest deficit of all the G7 countries.
It is thanks to the work of Canadians that we have a very low level of unemployment. Inflation is dropping—
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- May/16/23 2:22:22 p.m.
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Mr. Speaker, not long ago, the Prime Minister told us that inflation was falling, and his finance minister said that she would avoid deficit spending because that would simply pour gasoline on the inflationary fire. She did pour $60 billion of new inflationary fuel on the fire; as a result, today we see inflation is rising again, led by higher mortgage payments for the average Canadian.
Will the government stop pouring fuel on the fire so that Canadians could afford to pay their bills?
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- May/16/23 2:22:58 p.m.
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Mr. Speaker, yet again, despite the best efforts, which actually are not that good, of the Conservatives to mislead Canadians, the Canadian economy is strong. We have the strongest fiscal position in the G7, and our AAA credit rating was reaffirmed after I tabled the budget.
On inflation, I know that the party opposite does not really know too much about the Bank of Canada, but the Bank of Canada follows CPI-trim and CPI-median; those are the core indicators. CPI-median and CPI-trim went down between March and April.
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- May/16/23 2:23:42 p.m.
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Mr. Speaker, actually, when I said two years ago that deficits would cause inflation, that was controversial. Now, everyone agrees that I was right, including the Governor of the Bank of Canada, who now says that inflation is caused by deficits. The finance minister has agreed that I was right, when she said that deficits pour fuel on the inflationary fire. She poured $60 billion of that fuel. That is $4,200 per family.
Canadians cannot afford to eat, heat their homes or house themselves. Will that minister stop pouring the fuel on the fire so Canadians can again pay their bills?
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- May/16/23 2:25:05 p.m.
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Mr. Speaker, actually, the Governor of the Bank of Canada said that his measure of inflation is CPI. CPI is up today, even though she said it would be down. It is up, interestingly, after the $60 billion in new spending that she brought in her budget. What is up the most, though, is mortgage payments, and she can tell us why, because she admitted that deficits “make inflation worse and force rates higher for longer.” They force rates higher for longer, and that is why Canadians are paying 28% more in mortgage payments.
Will she get off the backs of Canadian homebuyers so they can put a roof over their head?
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- May/16/23 2:32:17 p.m.
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Mr. Speaker, government members should stop arguing among themselves. Liberals have delivered many gut punches to Canadians over the past eight years, including their failed carbon tax scam, a housing crisis and $1.2 trillion in debt. This morning, Canadians woke up to another one because the finance minister has no fiscal restraint, and her $63-billion budget bonanza gave Canadians another inflation rate increase. The finance minister gave every struggling Canadian household an extra $4,200 of cost because of her failed budget.
What did the minister think was going to happen when she threw a $63-billion jerry can of fuel on the inflationary fire she started?
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- May/16/23 2:32:54 p.m.
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Mr. Speaker, let us talk for a minute about fiscal responsibility and about inflation, which is coming down. In terms of Canada's fiscal position, the truth is, moving past the overheated and, frankly, metaphorically challenged Conservative rhetoric, that Canada has the strongest fiscal position in the G7. Our AAA credit rating was reiterated by S&P after I tabled the budget. We have the lowest deficit in the G7.
Some hon. members: Oh, oh!
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- May/16/23 2:33:52 p.m.
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Mr. Speaker, the finance minister must be practising dodge ball with the Prime Minister, the way they duck, dodge and deflect questions in here. They sound like a broken record on that side, but not as broken as what Canada feels like after eight years of their failures.
The finance minister just gave $4,200 of debt to struggling Canadian households, and she made the inflation rate go up. Now, she looks like she is auditioning for her next career. This is not a part-time job.
If she does not want to do her job anymore, why does she not just get out of the way so Conservatives can fix everything the Liberals have broken?
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- May/16/23 2:35:33 p.m.
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Mr. Speaker, I have bad news. Canadians are seeing even higher inflation today. Now we know for sure that Liberal deficits drive Liberal inflation, and the finance minister's last budget is driving every Canadian household 4,200 bucks more into debt.
Where is the accountability? Where are her answers? Why does she talk to Canadians like they are in kindergarten? The effect of her own failures is playing out right in front of her very eyes. Does she not see what everybody else sees?
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- May/16/23 2:37:26 p.m.
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Mr. Speaker, the judges of the Canadian economy are the families who cannot pay their bills. The finance minister's budget of broken promises speaks to her own credibility. She told Canadians that we would see a declining debt-to-GDP ratio, a line that she would not cross. She crossed it.
She projected an eventual surplus, and she spent $60 billion instead. She told Canadians that she would balance the budget in five years, and now it is never. Today, again, inflation is on the rise. That means everyone in Canada will pay more for everything. She is not the victim. Canadians deserve answers. When will they get them?
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- May/16/23 2:38:49 p.m.
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Mr. Speaker, the Minister of Finance herself said that spending too much would fuel inflation. There are more than 20 Liberals, including ministers and the Prime Minister, who represent the Montreal area.
After eight years in government, their record is appalling. There are 360,000 families in the greater Montreal area, or one in five households, who do not have enough money to pay their rent and meet their basic needs. The situation is so serious that Marie Leblanc told Le Devoir that “suicide is around the corner”. Ms. Leblanc has almost nothing left for food and clothing.
Why are the members from Montreal abandoning her?
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- May/16/23 2:40:07 p.m.
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Mr. Speaker, the minister talks about her responsible budget, but not a single Montreal-area MP rose to answer this question.
Inflation is still on the rise, causing prices to go up across the board, including food and basic necessities. The system safeguards, interest rates, have slashed housing starts by almost 50%. The housing crisis will get worse. More and more people will have trouble making ends meet, yet the 20-odd Montreal-area MPs have not said a word about the Prime Minister's inflationary policies.
When will the Prime Minister, the Montreal-area member for Papineau, clue in to common sense and stop sending more and more Montrealers to food banks?
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- May/16/23 2:54:00 p.m.
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Mr. Speaker, Liberal inflation has sent food, housing and gas prices soaring, but there is one substance that has gone down in price by 90%: powerful opioids. After the Prime Minister announced $100 million—
Some hon. members: Oh, oh!
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