44th Parl. 1st Sess.
September 21, 2023 10:00AM
- Sep/21/23 2:18:44 p.m.
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Mr. Speaker, documents released today show that the Bank of Canada's governing council is worried about creating false expectations regarding interest rates.
The Minister of Finance created those false hopes two months ago when she said that we had won the battle against inflation. Since then, inflation has gone up by 43%. It is higher here than in the United States. This could force another interest rate hike for Canadians, who are the most indebted in the G7.
Will the government eliminate its inflationary deficit at last so we can lower interest rates and save Canadians' homes?
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- Sep/21/23 2:20:04 p.m.
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Mr. Speaker, when the cat is away, the mice will play. How many others are going to be auditioning for the Prime Minister's job out there? It is okay, they will not be there long regardless.
In the meantime, we have a forthcoming crisis the government helped create. Its inflationary deficits mean that the cost of living is rising faster here than it is in the United States. Inflation is up 43% in two months; this after the finance minister said it was gone.
Why will the Liberals not get rid of their inflationary deficits and taxes so Canadians can eat, heat and house themselves?
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- Sep/21/23 2:21:21 p.m.
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Mr. Speaker, judging by the applause level, it looks as though the fellow from Shawinigan has a bit of a lead in the leadership race right now.
Unfortunately, Canada has a lead in having higher inflation than the United States of America does. Even the Bank of Canada's governing council expressed concern that it was giving false hope about interest rates. The recent inflation report that came out shows that the bank may have to raise rates again on the Canadian people, who are the most indebted in all of the G7.
Will the government reverse its inflationary deficits before rates rise and bankrupt Canadians?
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- Sep/21/23 2:22:44 p.m.
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Mr. Speaker, I do tell the occasional joke, but none of my humour meets with the joke that is the government's economic plan. It is a joke that has given us the worst inflation in 40 years, doubled the national debt, doubled rent, doubled mortgage payments and doubled the needed down payment for Canadians to get into a home. A Torontonian has to save 25 years for a down payment; they used to be able to pay off a mortgage in that time.
Will the Liberals reverse their disastrous inflationary policies so that Canadians can finally eat, heat and house themselves?
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- Sep/21/23 2:35:16 p.m.
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Mr. Speaker, after eight years of the Prime Minister, it is crystal clear that he is not worth the cost. His deficits are driving up inflation. Even his finance minister knows this. Just one year ago, she said that her goal was to “not pour fuel on the fire of inflation”.
Then what did she do? She grabbed the jerry can and poured $60 billion of new spending on that dumpster fire. The result was higher inflation, which means higher interest rates, which means Canadians will have bigger mortgage payments and may not be able to stay in their homes.
Time is running out. When will the government stop its inflationary deficits so that Canadians can keep a roof over their heads?
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- Sep/21/23 2:36:40 p.m.
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Mr. Speaker, the problem is that their inflationary spending is evaporating any benefit that Canadians might hope for. The Prime Minister admitted in this House that any benefit their programs might have provided Canadians was completely wiped out by higher inflation and higher interest rates.
The former Liberal finance minister knows this. John Manley said, “This is a bit like driving your car with one foot on the gas and the other on the brake generally.... 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.”
This reckless driving is forcing Canadians out of their homes and pushing food off their table. When will they stop the inflationary deficits so that Canadians can stay in their homes?
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- Sep/21/23 2:37:57 p.m.
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Mr. Speaker, news reports this morning show that in all of Canada, Quebeckers are struggling with inflation the most. Housing costs have climbed by 16.7%, while mortgage interest costs have jumped by 37% and gasoline by 51.5%.
The Prime Minister seems intent on making things worse with his ongoing inflationary spending and gas tax hikes.
Will the Prime Minister put an end to his inflationary policies to give Quebeckers a break and keep mortgage payments from going up again?
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- Sep/21/23 2:43:45 p.m.
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Mr. Speaker, a couple from Langley, British Columbia, who were interviewed said their mortgage payments went up $2,700 a month to $6,300 a month. Now the Liberal finance minister is trying to convince Canadians that her plan to bring down inflation is working. It is not. It just went up again.
After eight years, the NDP-Liberal government's spending has driven up inflation, which has driven up mortgage interest costs by 31%. The Prime Minister is just not worth the cost.
When will the Prime Minister stop his inflationary deficit spending so Canadians can keep a roof over their heads?
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- Sep/21/23 2:45:14 p.m.
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Mr. Speaker, what is serious is that Canadians are seriously worried about losing their homes, and the government continues to take zero accountability.
It is also former Liberal finance minister John Manley who said that the NDP-Liberal government's deficits pressed on the inflationary gas pedal which forced the Bank of Canada to press harder on the brakes with higher interest rates. He says that like driving a car, this is “not a good plan for controlling the direction of the economy.”
After eight years, Canadians are losing hope and they are hurting. When will the Liberal-NDP government stop the inflationary spending so people will not lose their homes?
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- Sep/21/23 2:46:41 p.m.
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Mr. Speaker, this is how bad it is. Last week, I met a senior named Don in my Barrie—Innisfil office. He told me that when he renews his mortgage, he will be left with just $600 a month from his pension because of the increases in interest rates caused by this NDP-Liberal government's inflationary spending. In fact, recent CMHC data shows 24% of people with mortgages are struggling to make their monthly payments, and it is getting worse. Don, like many seniors, now realizes that 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/21/23 3:05:19 p.m.
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Mr. Speaker, the NDP-Liberal carbon tax is driving up the cost of food. University student Walt McDonald must choose between eating his food bank meal for breakfast or for lunch. The Dalhousie Student Union food bank says that 10 years ago, it served just extra snacks to students. Now, students are using the food bank for their weekly meal plan. After eight years, the Prime Minister is just not worth the cost.
Will the Prime Minister stop forcing students to use food banks and axe his inflationary carbon tax, yes or no?
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- Sep/21/23 3:06:41 p.m.
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Mr. Speaker, what an out-of-touch answer.
After eight long years of the Prime Minister's tax-and-spend inflationary policies, Canadians are recognizing that he is just not worth the cost. His carbon tax is raising the cost of everything. He does not understand that if the government taxes the farmer who grows the food and taxes the trucker who ships the food, ultimately it is Canadians who will pay the price. Potatoes, onions and canned soup are all up more than 70%.
Will the Prime Minister finally listen to Canadians and axe the tax so they can afford to eat?
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- Sep/21/23 3:19:24 p.m.
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Mr. Speaker, since this is the first Thursday sitting of the House of Commons with a new government House leader, I would like congratulate my counterpart on the appointment. I wish her all the best in this role on a personal level, but maybe not on a political level. I want to thank her for some of the fruitful conversations we have already had.
I thought I would ease into the flow of the Thursday question by keeping it rather simple and straightforward. Given the fact that the latest inflation numbers were much higher than expected and the fears of an interest rate hike are coming, and given the fact that so many Canadians cannot afford to make their mortgage payments at existing rates, will the government House leader not just inform the House as to the business for the rest of the week and next week, but inform us of whether the government has any plans to cancel its inflationary deficit spending so that interest rates can come down and Canadians can stay in their homes?
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