44th Parl. 1st Sess.
October 16, 2023 11:00AM
- Oct/16/23 2:27:11 p.m.
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Mr. Speaker, apparently former Liberal finance minister John Manley is just a partisan using talking points when he says that the government's inflationary deficits are like pressing on the inflationary gas pedal and forcing the Bank of Canada to press on the brakes with higher interest rates. Canadian families have the highest debt load of families from any country in the G7, and those debts are colliding with the rates the government is driving up.
Will the finance minister cancel the inflationary deficits and balance the budget to bring down interest rates and inflation, or will she admit that she is just not worth the cost?
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- Oct/16/23 2:28:42 p.m.
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Mr. Speaker, the independent, non-partisan voice that I am interested in is that of the shipyard worker in Vancouver, who told me that his mortgage payment has now risen to $7,500 a month. That is for a shipyard worker and a middle-class family. That proves that the Prime Minister, after eight years, is not worth the cost of mortgage payments. According to John Manley, former Liberal finance minister, the Liberals' deficits are driving up interest rates on the backs of mortgage holders.
Will the Deputy Prime Minister and Minister of Finance reverse these deficits so that we can bring down inflation and interest rates before this shipyard worker and millions of Canadians lose their homes?
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- Oct/16/23 2:35:43 p.m.
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Mr. Speaker, after eight years of failed Liberal-NDP policies, the finance minister experiences inflation much differently than everyday Canadians.
Her enormous inflationary deficits led to 40-year highs in inflation that caused the Bank of Canada interest rates to go up, more than ever in history. They are just not worth the cost.
After promising to balance the budget, her own budget watchdog called her out, proving Liberal deficits could reach almost $50 billion this year. I guess budgets do not balance themselves after all.
Could the finance minister tell Canadians how much she is adding to the federal debt this year, or are we asking for too much?
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- Oct/16/23 2:37:05 p.m.
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Mr. Speaker, the finance minister is known for speeding up, just for the wrong reasons.
By adding more debt than every government before them combined, she put the pedal to the metal on her deficits and revved up inflation. Unlike on an Alberta highway, the consequence of her spending is not just a speeding ticket; it is a bigger deficit, as well as higher inflation. These things have led to higher interest rates, putting Canada most at risk in the G7 for a mortgage default crisis.
After eight years, the Liberals are definitely not worth the cost. Is the finance minister going to blow through her budget deficit projections, again, by more than $6 billion, yes or no?
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- Oct/16/23 2:48:31 p.m.
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Mr. Speaker, after eight years, the NDP-Liberal government's wasteful inflationary spending is keeping inflation high and causing interest rates to be the highest in a generation.
Canadians are facing tough choices, including whether they have no option other than to sell the family home. A Credit Canada representative told Bloomberg, “selling the house might end up being the only option for some homeowners.” Last week, I heard of a nurse living in her car in the Okanagan.
The Prime Minister is just not worth the cost. When will the Prime Minister finally stop his inflationary spending so Canadians can keep a roof over their head?
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- Oct/16/23 2:49:57 p.m.
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Mr. Speaker, this is from the same government that declared victory on inflation only to see it skyrocket.
James from Langley, B.C. told Global News that he and his husband were selling his home as a result of their mortgage payments and were returning to the rental market.
Mortgage defaults are climbing, with forced sales events up 10%, as just reported by the Toronto real estate board.
After eight years with this NDP-Liberal government, people are being forced to sell their homes. The Prime Minister is just not worth the cost.
Will the Prime Minister finally stop his inflationary spending so Canadians can keep a roof over their head?
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- Oct/16/23 2:51:13 p.m.
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Mr. Speaker, after eight years of this Liberal government, what has Canada witnessed? Chronic deficits and out-of-control inflationary spending. The result is a direct impact on inflation and interest rates, which are currently climbing.
According to the Institut national de la recherche scientifique, one in five Quebeckers are having a hard time repaying their debt and are at risk of losing their home.
After eight years of this Liberal government, will the government finally understand that reckless management is costly for all Quebeckers and Canadians?
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- Oct/16/23 2:59:58 p.m.
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Mr. Speaker, after eight years of the NDP-Liberal government, a half a billion dollars in inflationary deficits has fuelled 40-year inflation highs, causing the Bank of Canada to raise interest rates. In the midst of a housing crisis, mortgage defaults and forced home sales are on the rise. People are losing their homes.
This Prime Minister is just not worth the cost. Will the Prime Minister finally put an end to his inflationary spending so that Canadians can keep a roof over their heads?
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