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 2:20:58 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 2:22:22 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 2:23:42 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 2:24:23 p.m.
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Mr. Speaker, I have another request: Would that ex-minister stop leading Canadians astray, urging them, recklessly, to invest in crypto? That is an area where we actually really do disagree.
I want to talk about the core inflationary measures that the Bank of Canada follows, which determine the path of interest rates. One of them is CPI-trim. CPI-trim peaked at 5.6% in June of last year. It was 4.4% in March, and fell to—
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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 2:40:07 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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