44th Parl. 1st Sess.
September 20, 2023 02:00PM
- Sep/20/23 2:13:24 p.m.
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Mr. Speaker, in June, the finance minister said, “Canada’s plan to bring down inflation is working.” She called it a “milestone moment”, taking credit for the reduction.
Yesterday, we learned inflation has gone up to 4%, an increase of 43% since she made those comments. Now inflation is higher here than it is in the United States. Mortgage payments are up 151%, to $3,560. Rent has doubled.
Before the Prime Minister took office, it took 25 years to pay off a mortgage. Now it takes 25 years just to save for a down payment. The NDP-Liberal government wants to blow the bank. The Prime Minister has added more debt than all previous prime ministers combined.
Common-sense Conservatives would bring homes people can afford by reducing inflationary deficits and taxes to bring lower interest rates. After eight years, the Prime Minister is just not worth the cost.
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- Sep/20/23 2:21:42 p.m.
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Mr. Speaker, after eight years, the Prime Minister has said that times are tough for politicians. At his retreat in Charlottetown, he said that inflation would go down. We learned yesterday that it has actually gone up.
In fact, since the Minister of Finance declared victory over inflation, it has increased 43%. This could force the Bank of Canada to raise interest rates on Canadians, who are already carrying the highest debt levels in the G7.
Will the government finally reverse its inflationary taxes and deficits so we can cut interest rates before we have a mortgage crisis on our hands?
Some hon. members: Oh, oh!
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- Sep/20/23 2:28:58 p.m.
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Mr. Speaker, our plan is to axe the tax and use technology, not taxes.
It is really incredible that this high-flying, high-carbon hypocrite is jetting around the world at the expense of Canadian taxpayers at the same time as he raises fuel taxes on everyday Canadians. The NDP supports him 100% in the 61¢-a-litre carbon tax they want to impose. That and the inflationary deficits have driven inflation back up.
Will the government finally end the inflationary taxes and deficits so we can bring down rates before Canadians go bankrupt?
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- Sep/20/23 2:37:08 p.m.
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Mr. Speaker, eight years of the Prime Minister has punished Canadians with an NDP-Liberal government that spent billions of dollars to double the price of a home, to double the rent and double the mortgage payment, all because of the Liberals' inflationary spending. They are building fewer homes this month than they did last month. Inflation is up; homebuilding is down.
When will the housing minister stand up and admit that the Prime Minister is just not worth the cost?
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- Sep/20/23 2:39:39 p.m.
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Mr. Speaker, they lost track of a million people.
After eight years of the Prime Minister, housing prices are at an all-time high, and many Canadians have lost hope of ever owning their own home. This is a direct result of the NDP-Liberal government's reckless deficit spending that has poured countless cash into the economy, driving up inflation, which has driven up interest rates, which has doubled mortgage rates.
Will the Prime Minister finally stop his inflationary spending so Canadians can once again keep a roof over their heads?
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- Sep/20/23 2:47:09 p.m.
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Mr. Speaker, what Canadians want right now is for inflation to come down and for interest rates to fall, not to pour fuel on the fire of inflation. That was what the finance minister promised last year. Instead, mortgage interest rates are up 31%. Inflation is up 4% this month alone. After eight years, the Liberal-NDP government refuses to be the financial steward this country so desperately needs. The Prime Minister is not worth the cost.
Will the Prime Minister finally stop his inflationary spending so Canadians can keep a roof over their heads?
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- Sep/20/23 2:48:27 p.m.
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Mr. Speaker, that is completely false and is empty, condescending rhetoric. Let us quote former Liberal finance minister John Manley: “This is a bit like driving your car with one foot on the gas and the other on the brake generally, especially if there's slushy conditions under your tires. That’s not a good plan for controlling the direction of your vehicle, not a good plan for controlling the direction of the economy either.”
After eight years, the Liberal-NDP government is still not able to address the housing and living crisis that it helped create. Again, will the Prime Minister finally stop his inflationary spending so people do not go bankrupt, yes or no?
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- Sep/20/23 3:02:37 p.m.
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Mr. Speaker, every member of the House receives emails, letters and phone calls explaining how unaffordable life has become due to the NDP-Liberal government's punishing carbon tax.
After eight years of the Liberal Prime Minister, everything costs more, and inflation on basic necessities such as food continues to rise. The price of lettuce is up. The price of carrots is up, and the price of potatoes is up, all by more than 70%. Quite frankly, Canadians are fed up.
Will the Liberal Prime Minister cancel his plans to increase his inflationary carbon tax?
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- Sep/20/23 3:03:56 p.m.
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Mr. Speaker, what the Liberal government would like to do is deflect from the things that are very important to Canadians, such as their inflationary carbon tax. Even the governor of the Bank of Canada has stated clearly that, with the carbon tax announcement that has it going up, inflation increases each year.
The ongoing punishment for Canadians simply trying to buy food, put a roof over their heads, for which the minister is failing again just as he did on immigration, and heat their homes, must stop.
After eight years, the Liberal Prime Minister is not worth the cost. When will he cancel his plans to increase his inflationary carbon tax?
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- Sep/20/23 3:05:13 p.m.
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Mr. Speaker, eight years of the NDP-Liberal government have depleted Canadians' savings, raised their taxes and increased the prices at their local grocery stores. Cutting his carbon tax could bring immediate relief for Canadians, but the Prime Minister refuses. Even the Bank of Canada governor is now warning that the Liberals' carbon tax increases are causing inflation.
The policies of the Prime Minister are not worth the cost, and Canadians know it. Will he finally side with Canadians and cancel his inflationary carbon tax increases?
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- Sep/20/23 4:01:29 p.m.
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Mr. Speaker, I rise today to request an emergency debate, following yesterday's news that Canada's CPI inflation is once again on the rise. It has increased 43% in the last two months to reach 4%, double the Bank of Canada's target rate. This is at a time when Canadians are already suffering the cost of living crisis following two years of inflation brought on by the Liberal government's inflationary deficits. As former Liberal finance minister John Manley has said, that is like pushing on the gas while the Bank of Canada slams on the brakes as it raises interest rates to levels not seen in over 20 years.
Insolvencies, bankruptcies and mortgage delinquencies are on the rise. A quarter of mortgage holders say they are struggling to pay their monthly mortgage bill, and food banks estimate they will see a 60% increase in usage this year. Canadians can no longer afford basic necessities, the cost of rent or a mortgage. According to the IMF, our country is the most at risk in the G7 for a mortgage default crisis.
The pain felt by Canadians is real, and the risk for even more serious economic problems is very real. Therefore, I request an emergency debate to address this crisis.
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