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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 2:24:51 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?
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Context: House Hansard - 220 - Sep/19/23
Right Hon. Justin Trudeau (Prime Minister, Lib.)
  • Sep/19/23 2:25:30 p.m.
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Mr. Speaker, we know that Canadians are struggling right now. I heard from a mom from Oakville who actually said that her mortgage costs went up the same amount as her child care costs came down. Thank God they cancelled each other out, but people should be doing better than that. That is why we are going to continue to be there for Canadians. Some hon. members: Oh, oh!
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Context: House Hansard - 220 - Sep/19/23
Mr. Jasraj Singh Hallan (Calgary Forest Lawn, CPC)
  • 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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Context: House Hansard - 220 - Sep/19/23
Mr. Adam Chambers (Simcoe North, CPC)
  • 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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Context: House Hansard - 220 - Sep/19/23
Mr. Gérard Deltell (Louis-Saint-Laurent, CPC)
  • 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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