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House Hansard - 211

44th Parl. 1st Sess.
June 12, 2023 11:00AM
Context: House Hansard - 211 - Jun/12/23
Mr. Brad Vis (Mission—Matsqui—Fraser Canyon, CPC)
  • Jun/12/23 2:11:28 p.m.
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Mr. Speaker, under the government, Canadian families are in more debt than any other country in the G7. Last week, with the passage of budget 2023, the costly coalition poured another 60 billion dollars' worth of fuel onto the inflationary fire, sparking another interest rate hike from the Bank of Canada. Families with variable-rate mortgages, those who the Prime Minister encouraged to borrow, promising rates would be low for a long time, are seeing their monthly payments going up again. Even before last week's hike, rate increases had already added $1,000 a month to the average $500,000 mortgage. In my province of B.C., the average cost of a home is $995,000. We can think about how this rate hike will impact British Columbians. Thanks to the government, families are worried about how they are going to pay for their groceries, day care, summer camps and everything else. Conservatives would put a stop to deficit spending, get inflation under control, create powerful paycheques and get homes built that Canadians can afford. For their home, my home, our home, Conservatives are going to bring it home.
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