44th Parl. 1st Sess.
September 19, 2023 10:00AM
- Sep/19/23 2:33:10 p.m.
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The hon. member for Calgary Forest Lawn.
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- Sep/19/23 2:33:13 p.m.
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Mr. Speaker, this is coming from the minister who, three years ago, said that interest rates would stay super low. Then the government piled up so much debt that the interest rates went up. Now Canada is the most at risk in the G7 for a mortgage default crisis.
Maybe the minister should take advice from former Liberal finance minister John Manley who said that their deficits are like pressing the gas while the Bank of Canada is slamming on the brakes with their interest rate hikes. These interest rate hikes have not been seen in the last three decades.
When will the Liberals stop the inflationary spending and balance the budget so interest rates could come down and Canadians would not lose their homes?
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- Sep/19/23 2:33:50 p.m.
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Mr. Speaker, let me tell the House who we do not intend to take advice from. We do not intend to take advice from the party that was going to leave Canadians high and dry when COVID shut down our economy.
Instead, we supported Canadians, and that support worked. It kept businesses going. That means we have one million jobs more than we had before.
We are going to continue working hard for Canadians. We have removed the GST on purpose-built rentals to get more homes built faster.
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- Sep/19/23 2:34:28 p.m.
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Mr. Speaker, mortgage costs for Canadians are going up because of the Liberal-NDP government's spending and deficits. Even the current finance minister said that spending and deficits are like pouring fuel on the inflationary fire. John Manley said that it is like pressing on the gas pedal while the Bank of Canada is pressing on the brake with higher interest rates.
Canadians are realizing that the current Prime Minister is not worth the cost. When will the government stop its inflationary deficits so that Canadians can keep a roof over their heads?
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- Sep/19/23 2:34:57 p.m.
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Mr. Speaker, let me bring some facts into this conversation. Canada's AAA credit rating was reaffirmed last week by DBRS Morningstar with a stable outlook. We have the lowest debt and deficit in the G7. When it comes to housing, we are rolling up our sleeves and getting the job done. We have lifted the GST on purpose-built rentals. Provinces across the country are following us. We are going to get more homes built for more Canadians.
The only thing the Conservatives can offer is austerity and cuts.
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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 2:37:32 p.m.
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Mr. Speaker, I am aware of something very important, something that the Conservative leader admitted today.
Today, he was proud of something he said at the beginning of the pandemic. He is proud to have said that supporting Canadians and small and medium-sized businesses was not the right thing to do.
We are proud to have done that and to have supported Canadians. We continue to do so, for example with—
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- Sep/19/23 2:38:10 p.m.
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The hon. member for Louis-Saint-Laurent.
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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 2:39:32 p.m.
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Mr. Speaker, yesterday's stunt with the CEOs of the major grocery chains is not going to affect our grocery bills anytime soon. Ottawa asked them to come up with plans to stabilize prices within three weeks. Really? If they do not, then what?
Obviously, Quebeckers cannot go shopping elsewhere. If the big grocery stores do not lower their prices, Ottawa is threatening to hit them with a new tax. Who will they then pass those costs on to? That is the obvious question. It is all well and good to include the major grocers in the discussion, but everyone needs to be at the table.
When are we going to see measures that will make a difference to Canadians' wallets?
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- Sep/19/23 2:40:11 p.m.
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Mr. Speaker, it is not a stunt when we are fighting to stand up for Canadians. What happened was unprecedented: We called together the five major grocery players in Canada so that we could convey to them the frustration that millions of Canadians experience every week. We told them to table specific, concrete plans to stabilize prices in Canada.
That is exactly what Canadians asked us to do, and that is exactly what we are going to do. We will continue to fight for Canadians, no matter what the Bloc Québécois may think.
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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 2:41:29 p.m.
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Mr. Speaker, I thank my colleague for his important question.
One thing that was clear yesterday with the major grocery chains from across the country is that we must not allow any measure to affect our farmers, the small and medium-sized businesses across the country that contribute to the food chain. Speaking of yesterday's event and the federal government's unequivocal demand, it is up to the large grocery chains to stabilize prices in Canada. We are here for supply management. We are here for our farmers. We will continue to support the little guy in the supply chain.
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- Sep/19/23 2:42:06 p.m.
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Mr. Speaker, this situation is particularly urgent, especially for fruit and vegetable growers in Quebec. The rains this summer have been disastrous for their crops.
Produce growers urgently need the federal government's help. If the federal government does not intervene, some farms will disappear, and that will have an impact on food prices.
Will the government act responsibly and step up to help our fruit and vegetable growers before it is too late?
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- Sep/19/23 2:42:43 p.m.
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Mr. Speaker, my sympathy certainly goes out to the farmers with the weather we are facing in Quebec and right across this country. We have the CAP program and the business risk management programs, which we worked on with the provinces and the territories right across the country. My hon. colleague is well aware that the province applies tabulations sent in to the federal government and we make sure we compensate the farmer. We will continue to do that, working hard with farmers to make sure they are able to continue.
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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 2:43:53 p.m.
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Mr. Speaker, with great respect to my hon. colleague, she would recognize the disastrous consequences that would have befallen Canadian households if we had not been there for them during their time of need. Their argument ultimately boils down to the fact that we should not have provided support to families to keep food on the table and that we should not have provided support to Canadian employers so workers could remain on the payroll. That is what would have caused Canadians to be without homes, but the Conservatives want to talk about housing plans. The only plans they have are to raise taxes on the people who build homes, and that is just foolish.
We are going to continue to put forward programs that will allow us to build more homes, and we are going to put forward measures to support Canadians during their time of need.
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