44th Parl. 1st Sess.
September 19, 2023 10:00AM
- Sep/19/23 2:16:37 p.m.
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Mr. Speaker, “just inflation” cost everyone. Most young people feel they will never own a home. Rent has doubled, the Liberal-NDP inflationary deficits are driving up interest rates and families cannot afford their mortgages. Mortgage payments on a typical home are up 151% since the Prime Minister took office.
The Prime Minister just said this about young people affording a home, “that loss of of of hope and optimism is devastating for people's morale. Of course, they're going to they're going to grumble at government.” Grumble? No wonder young people's morale is down when a national Bank of Canada's report says that it now takes 37 years to save for a house in Vancouver.
Former Liberal finance minister John Manley said that the Liberals' deficits pressed on the inflationary gas pedal, which forced the Bank of Canada to press harder on the brakes with higher interest rates.
Who will pay the cost of the Liberal-NDP runaway inflation which spiked at 4% today? We all will. The Prime Minister is just not worth the cost.
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- Sep/19/23 2:19:02 p.m.
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Mr. Speaker, the inflation rate is accelerating again, proving that after eight years in office, this Prime Minister is just not worth the cost.
Inflation is higher in Canada than it is in the United States or Japan. The cost of everything is rising, even though the Prime Minister and his ministers announced that inflation was going to fall.
The reality is that these rising costs are the result of an inflationary deficit that the government racked up five months ago. That money is now circulating in the economy and inflating prices. We can even hear apocalyptic music in the background.
When is he finally going to balance the budget to lower inflation and interest rates?
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- Sep/19/23 2:20:43 p.m.
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Mr. Speaker, three years ago, I warned this Prime Minister that printing money and doubling the national debt would cause inflation. He refused to admit it. Now it has become a reality.
Five months ago, I warned him that an inflationary deficit would cause the problem we are experiencing today. In fact, even the Minister of Finance said that deficits add fuel to the fire of inflation. Then she added $60 billion of fuel to the fire of inflation.
When will they balance the budget to reduce inflation?
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- Sep/19/23 2:21:26 p.m.
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Mr. Speaker, what the opposition leader is saying is that he would not have sent the grocery rebate to 11 million Canadians. He would not have invested in dental care for low- and modest-income Canadians who do not have access to dental care for their children. He certainly would not have cut child care fees in half. He would not have been there for Canadians in these tough times.
We did that by carefully managing the deficit and our public finances in order to lower inflation, but also—
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- Sep/19/23 2:22:05 p.m.
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Mr. Speaker, today's accelerating inflation rate proves that after eight years, the Prime Minister is just not worth the cost. After he and his ministers pumped their fists in the air and declared victory over inflation, it has now gone up 43% in two months. Through all categories, it is higher in Canada than it is in the United States and Japan. Worse, it may force the Bank of Canada to raise interest rates again, causing Canadian households, which are the most indebted in the G7, to go bankrupt.
Will he balance the budget to bring down inflation and rates before that nightmare unfolds?
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- Sep/19/23 2:22:48 p.m.
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Mr. Speaker, over the past year, we have demonstrated that we were able to bring down inflation from the highs of 8.1%, while at the same time being there to invest in Canadians.
What the Leader of the Opposition is saying is that he would not have been there to help 11 million Canadians with the grocery rebate. He would not have been there to help Canadians with dental care for kids whose families cannot send them to the dentist. He certainly would not have been there to cut child care fees in half right across the country, on the way to $10 a day.
Those are measures that have helped Canadians while maintaining fiscal responsibility and seeing—
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- Sep/19/23 2:23:30 p.m.
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Mr. Speaker, doubling the debt on Canadians is not fiscal responsibility, and forcing Canadians to live in tents is not compassion. That is the reality.
After eight years of the Prime Minister, life is miserable, especially for the poorest among us. His solution is to make everything cost even more. Inflation is now accelerating. He has not brought it down. He stacked 4% inflation on top of the previous 8% inflation, which means Canadians cannot eat, heat or house themselves.
Will he reverse his disastrous policies so Canadians can pay their bills?
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- Sep/19/23 2:31:54 p.m.
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Mr. Speaker, the NDP leader just now asked why we should trust the Prime Minister. Why does he continue to trust the Prime Minister, and to prop him up over and over again?
The Liberal-NDP coalition pile-drives Canadians further, up to 4% now. This finance minister was doing victory laps just two months ago, saying that she stopped inflation. It has gone up 43% since then. After eight years of this incompetency, the Liberals are just not worth the cost anymore. They have doubled the cost of rent and mortgages, and the time it takes to save up for a down payment.
When will the Liberals stop fuelling inflation and pressing the gas on their inflationary spending so that Canadians do not lose their homes?
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- Sep/19/23 2:35:33 p.m.
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Mr. Speaker, how about a fact? When one month in 27 months the interest rate goes below 3% the current finance minister declares victory. She said that the government's plan to bring inflation down is working, but that is not what is happening. In fact, it is going up because of rising energy costs, but the current government is determined to make energy more expensive by increasing the carbon tax. Here is an idea. Why does it not reduce the carbon tax or other taxes on energy and make it affordable again for Canadians?
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- Sep/19/23 2:36:08 p.m.
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Mr. Speaker, as a little point of fact, I think my hon. colleague just confused the interest rate with the inflation rate. I guess it is an easy mistake to make if one is a Conservative who does not really care about facts.
Let me tell members what our government is focused on. We are focused on Canadians. We are focused on fighting for Canadians. That is why, together with our industry minister, we met with the leaders of Canada's grocers yesterday and told them to stabilize prices now. We are going to make sure that happens.
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- Sep/19/23 2:36:49 p.m.
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Mr. Speaker, Canadians faced another blow this morning with the news that inflation in Canada increased to 4%. This has a direct impact on all Canadian families.
However, as recently as July, just two months ago, the Deputy Prime Minister and Minister of Finance said, “Canada’s plan to bring down inflation is working”. No, minister, it is not working.
After eight years of this Liberal government, is the Deputy Prime Minister aware that her reckless spending has a direct impact on the 151% increase in mortgage payments for Canadians?
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- Sep/19/23 2:38:11 p.m.
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Mr. Speaker, the Minister of Finance has a short memory, to say the least. She does not remember that, a mere two months ago, she said her plan was working. Today, it is clear that it is not.
I happen to have a quick question for her. Does she remember who said that deficits “pour fuel on the fire of inflation”? Does anyone know who said that? It was the Minister of Finance and Deputy Prime Minister of Canada. She is the one who said that.
My question is for the Minister of Industry. Does he agree with his colleague that, if the government does not control spending, it is pouring fuel on the fire of inflation? Does he agree with his colleague?
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- Sep/19/23 2:38:51 p.m.
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Mr. Speaker, if my colleague opposite wants to lecture anyone about economics, he should start with his colleagues, who do not understand the difference between the key rate and inflation.
We fully understand the importance of fiscal responsibility. That is why Canada has the lowest deficit in the G7. That is why our AAA credit rating was confirmed just last week. Those are the facts.
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- Sep/19/23 2:40:51 p.m.
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Mr. Speaker, those who are often forgotten, when we talk about groceries, are the farmers and processors. They are the ones who produce our food. Right now, they are not getting any support from Ottawa to deal with higher basic costs, for labour, for example. There is nothing for them to help with inflation and their record level of debt. There is nothing for them to help with weather-related damage. Then Ottawa is surprised when the price of food goes up.
Will the government commit to supporting our farmers and processors? That is what will affect us at the grocery store.
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- Sep/19/23 2:43:22 p.m.
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Mr. Speaker, just two months ago the finance minister said, “Canada's plan to bring down inflation is working.” Clearly, the Liberals are experiencing inflation differently, because it is not going down; it is up again today. After eight years of the current Prime Minister, mortgage payments are up 151%, and Canadians are suffering. He is not worth the cost.
When will he admit that his inflationary spending is leaving Canadians homeless?
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- Sep/19/23 2:45:53 p.m.
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Mr. Speaker, these are failed plans. After eight years of the Prime Minister, finding an affordable place to live is a crisis. Under the NDP-Liberal government and its out-of-control spending, inflation and interest rates are both skyrocketing.
Rents have doubled, mortgages have doubled and people are becoming homeless. Will the Prime Minister stop his inflationary spending so Canadians can keep a roof over their heads?
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- Sep/19/23 2:47:02 p.m.
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Mr. Speaker, two months ago, the finance minister declared victory over inflation. However, just today, inflation went up again: over 43% since that declaration. Even former Liberal finance ministers Bill Morneau and John Manley agree deficits lead to inflation, yet the government keeps piling more and more on the inflationary fire, which is costing more and more Canadians their homes.
Does the Prime Minister have any plans to keep his promise to balance the budget so Canadians can keep their homes?
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- Sep/19/23 2:47:38 p.m.
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Mr. Speaker, in response to global inflation that is felt in every corner of the planet, what is the Conservatives' solution? It is to slash support to the most vulnerable people, as if that is going to help global inflation.
What is their plan on dental care? We have an opportunity. For the nine million Canadians who do not have the opportunity today to have good oral health, we can make sure that this is not only a matter of dignity for them but also a matter of prevention, and the Conservatives are going to fix global inflation by taking away dental care. No, it is the same old Tory plan: Make the most vulnerable pay and pretend that global problems are not actually what is at fault.
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- Sep/19/23 2:53:17 p.m.
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Mr. Speaker, I am glad the new Minister of Agriculture still believes that farmers support the carbon tax. He is up for a rude awakening.
The previous agriculture minister said it is not like we can pass a law that will reduce the price of food. I have great news: She was wrong. The Prime Minister can reduce the cost of food right now by axing his inflationary carbon tax, which is driving up costs for farmers, processors, truckers and Canadian consumers.
Inflation is up another 4%, and a quarter of Canadian families are skipping meals because they cannot afford food. How much will Canadians have to pay to feed their families when he quadruples the carbon tax?
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- Sep/19/23 2:54:34 p.m.
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Mr. Speaker, the Liberal-Bloc coalition seeking to drastically increase carbon tax 2.0 is fuelling inflation across the country. It is outrageous. Everything costs more because of this obsession of the Liberal Party and the Bloc to drastically increase the inflationary carbon tax.
Will the Prime Minister and his coalition with the Bloc listen to reason and cancel their plan to drastically increase the inflationary carbon tax?
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