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Decentralized Democracy

House Hansard - 220

44th Parl. 1st Sess.
September 19, 2023 10:00AM
Context: House Hansard - 220 - Sep/19/23
Hon. Pierre Poilievre (Leader of the Opposition, CPC)
  • 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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Context: House Hansard - 220 - Sep/19/23
Hon. Pierre Poilievre (Leader of the Opposition, CPC)
  • Sep/19/23 2:24:51 p.m.
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Mr. Speaker, one of the ways that the Prime Minister doubled housing costs was by flooding the economy with $600 billion of newly created cash, which bid up the price of homes and forced Canadians to overpay. Then many bought at rock-bottom low rates because he promised that they would never go up. His inflationary deficits pushed them up, and now one-fifth of all Canadians are actually unable to pay the interest on their mortgages. Their mortgages are growing in size and when they renew, it will be on a bigger principal at a higher rate. How many Canadians will go bankrupt? Will we have a mortgage crisis when that happens, yes or no?
116 words
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