SoVote

Context: House Hansard - 233 - Oct/17/23

Oct/17/23 10:40:48 a.m.
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Mr. Speaker, housing is absolutely a growing concern, and we are facing a housing crisis. One of the best things we could do is what the Leader of the Opposition has been calling on the government to do, which is to get rid of some of the gatekeepers that are blocking development in and around our cities, in our urban centres. We could reward and incentivize those who do build, those who are going to make a difference, and those cities and municipalities that are going to step up to the plate and make sure that we do everything we can to provide more housing opportunities. The other thing that is impeding housing development is the fact that the cost of everything is going up. One of the biggest factors in the cost going up of all those supplies, when everything is trucked and shipped, is the carbon tax. One of the greatest things we could do to help is eliminate the carbon tax.

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Mr. Daniel Blaikie (Elmwood—Transcona, NDP)

Oct/17/23 10:41:40 a.m.
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Mr. Speaker, with all due respect to the member for Tobique—Mactaquac, his analysis of inflation is not worth the paper that his leader's office wrote on. Not only does he not do justice to the role that corporate greed is playing in driving inflation in Canada, but he does not even mention it. It is not even part of the analysis. Oil and gas profits, between 2019 and 2022, went up by 1,000% in this country. There was no mention of the effect that that has on Canadians. When oil and gas companies gouge the farmer who grows the food, the producer who makes the food and the trucker who ships the food, sure as shooting, Canadians are going to get gouged at the grocery store. Does the member not recognize that?

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Mr. Richard Bragdon

Oct/17/23 10:42:30 a.m.
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Mr. Speaker, one of the biggest things that is affecting the cost of everything is the fact that the cost of doing business is going up. This is indisputable. The wage earner cannot be lifted up, as has been famously said, by tearing down the wage payer. When they continually attack those who grow the economy and produce wealth, more wealth is not generated. It is better to go after a government that spends beyond its means and gets in the way of development. It is time we unleashed the potential that Canada has by saying, “Yes, we can do better. Yes, we can grow. We are going to stand on the side of our producers.” It is time we did that.

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Ms. Rachel Bendayan (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance, Lib.)

Oct/17/23 10:43:20 a.m.
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Mr. Speaker, I will be sharing my time with my friend and colleague, the hon. member for Winnipeg North. We learned just this morning from Statistics Canada that inflation fell to 3.8% in this country. That is well below market expectations and good news for Canadians as our economy continues to stabilize. We know that many Canadians are still having trouble making ends meet. Our government understands that many Canadians are having a tough time these days. That is why our government is working hard to build an economy that works for everyone, with stable prices, strong and sustained growth and high-paying jobs. That is what matters most to Canadians. There are over 1 million more Canadians in the labour force today than before the pandemic. The OECD and the IMF predict that Canada will have the strongest economic growth in the G7 next year. Moreover, rating agencies, including DBRS Morningstar, confirmed our AAA credit rating last month. That is the foundation for more investments in Canada. Our plan is working. I want to highlight certain measures that our government introduced recently to continue to support Canadians. We know that for too many of them, including youth and new Canadians, the dream of being homeowners is increasingly unattainable, and the cost of rent keeps rising. I see it back home, especially in Côte-des-Neiges. People are struggling to pay their rent because it keeps rising all the time. The housing crisis is also affecting our economy. Because of the shortage of housing in our communities, it is difficult for businesses to attract the workers they need to grow and succeed. When people spend more of their income on housing, it means they are spending less money in our communities and on necessities. That is why we began this fall parliamentary session by introducing Bill C-56 in the very first few days. This bill would enhance the GST rental rebate on new purpose-built rental housing to encourage the construction of more and more rental homes throughout the country, including apartment buildings, student housing and seniors residences right across Canada. For a two-bedroom rental unit valued at $500,000, this GST rebate for residential rental buildings could mean a tax break of $25,000. This is just one more tool to help create the necessary conditions to build the types of housing that Canadians need and families want to live in. This measure would also remove the restriction in the existing GST rules to ensure that public service bodies, such as hospitals and charities, as well as qualifying non-profit organizations that build or purchase purpose-built rental housing, are permitted to claim that 100% enhanced GST rebate. The government is also calling on provinces that currently apply the provincial sales tax or the provincial portion of the HST to rental housing to join us by matching our enhanced rebate for new rental housing. In fact, Ontario, Nova Scotia, Newfoundland and Labrador, and Prince Edward Island have already announced that they intend to follow our lead by eliminating the provincial component of the HST on those new purpose-built rentals. Since we moved to remove GST on new rental housing, home builders from coast to coast to coast have announced they will be moving ahead with new or stalled projects. This means more housing for Canadians. I would certainly hope that Conservatives will stop playing procedural games with this bill so that we can deliver this important measure to Canadians because I do fundamentally believe that the Conservatives are supportive of creating more supply in the housing market. In addition to the enhanced GST rebate, our government recently announced the next step in our plan to address the lack of housing in this country. To ensure builders have the low-cost financing required to build more rental projects, the government is increasing the Canada Mortgage Bond issuance limit by $20 billion per year and designating the increased amount for funding mortgage loans on multi-unit rental projects insured by CMHC. Eligible rental projects must have at least five rental units and can include apartment buildings, student housing, and senior residences. There is no fiscal impact for the Government of Canada as a result of this particular measure, and I would like to make that very clear. This is fiscally responsible policy, using policy tools at the government's disposal. This new measure alone would help build up to 30,000 additional rental units every single year. The increase to Canada mortgage bonds builds on the federal government's recent actions to make housing more affordable for Canadians, including the $4-billion housing accelerator fund, which was launched earlier this year, as members know. That fund helps to cut red tape to address outdated local policies, such as zoning issues that are preventing construction. It allows us to build more homes faster. The government also introduced the new tax-free first home savings account, which is helping Canadians to contribute up to $40,000 tax-free toward their first down payment. Since we implemented this new tax-free first home savings account in April, most of Canada's large financial institutions have started offering it. Today, 150,000 Canadians have already opened a tax-free first home savings account and many new accounts are being opened every day. Our government also understands that inflation is, of course, challenging when it comes to the essentials Canadians must purchase every single day, such as food. Earlier this year, we addressed the rising cost of food by delivering targeted inflation relief for 11 million low- and modest-income Canadians and families, those who needed it the most. That was through our one-time grocery rebate, which meant up to an extra $467 for eligible couples with two children and over $200 for single Canadians without children, including single seniors. I know that this support was welcomed by Canadians, but I also know that more work needs to be done. That is why Bill C-56 proposes to take immediate steps to help make groceries more affordable. This crucial legislation would introduce a series of amendments to the Competition Act to strengthen competition, especially in the grocery industry. These amendments would give the Competition Bureau more power to investigate and take action when industries engage in unfair competition, such as price-fixing or unreasonable price hikes. They would eliminate the efficiencies argument to stop anti-competitive mergers that end up driving up prices and limiting consumer choice here, in Canada. These amendments would also allow the bureau to block collaboration efforts that undermine competition and consumer choice, for example, when major grocery chains prevent SMEs, their smallest competitors, from opening stores nearby. The government continues to work with leaders of Canada's five largest grocery chains and, of course, domestic and international food processors, to take this action to stabilize food prices. Price stabilization requires the full engagement of everyone, of the entire supply chain. We are encouraged that grocers and manufacturers have agreed to work with us to find solutions that are in the best interests of Canadians. In closing, these are real, concrete actions that will make life more affordable for Canadians. More competition will ease the sticker shock at the grocery store checkout line, and that is important. Eliminating the GST on the construction of new homes will get more homes built faster. That, too, is critically important.

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Mrs. Karen Vecchio (Elgin—Middlesex—London, CPC)

Oct/17/23 10:52:47 a.m.
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Mr. Speaker, I do not know if things are different in the member's part of the country than they are in mine. I just met with members from LSTAR, which is part of CREA, the Canadian Real Estate Association. They shared with me that one of their smallest branches just announced 40 delinquent mortgages. The banks do not know what to do because, if they go forward and close some of these, what will happen to the rest of housing? We know that we are in a crisis when we are seeing small towns with 40 delinquent mortgages. What does the member have to say about her government's record on this?

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Ms. Rachel Bendayan

Oct/17/23 10:53:29 a.m.
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Mr. Speaker, I certainly appreciate the members opposite raising important issues local to their own communities. I have to say that I am hearing very similar things in my community. I know that the banks are working very hard to find solutions for their customers. The news this morning that inflation is falling is certainly welcomed by our government not only in that we need to stabilize inflation to ensure that we stabilize prices, but also that we need to make sure that the Bank of Canada continues to work on interest rates and ensure that Canadians are well served by our institutions. I think the elements of BillC-56, as I pointed out in my speech, are important to help Canadians who are struggling to find homes and to help Canadians who are facing higher prices at the grocery store. I certainly hope the member opposite will support that bill.

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Mr. Denis Trudel (Longueuil—Saint-Hubert, BQ)

Oct/17/23 10:54:29 a.m.
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Mr. Speaker, has the government already thrown in the towel when it comes to the housing crisis? We know that Quebec needs 1.2 million new housing units by 2030. The government has announced GST breaks on new housing construction, which may enable a few thousand units to be built. After 18 months, the government finally signed an agreement with Quebec to release $900 million in the housing accelerator fund. Again, that represents a few thousand housing units. Unfortunately, to really address this crisis, we should be building 200,000 housing units a year from now until 2030. What is the plan? Where are the meaningful measures to address this crisis? Has the government already abandoned people to their fate in this housing crisis?

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Ms. Rachel Bendayan

Oct/17/23 10:55:18 a.m.
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Mr. Speaker, of course, we are working tirelessly to respond to the housing crisis. In fact, we were the first to acknowledge that there actually was a crisis. We put money on the table. Yes, negotiations with Quebec took some time. I am glad we were able to reach an agreement, as my colleague mentioned. We signed an agreement with Quebec to transfer funds. The money is there. We expect it to be used to build more housing. We will keep on keeping on.

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Ms. Lori Idlout (Nunavut, NDP)

Oct/17/23 10:56:00 a.m.
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Uqaqtittiji, the infrastructure gap for first nations, Inuit and Métis communities is estimated at over $300 billion. That is almost more than the entirety of the federal government's annual budget. Recently, the Prime Minister announced that he would ask all ministries to make cuts in their budgets, and this is a huge concern for indigenous services being delivered for indigenous peoples. I wonder if the member agrees that making cuts to Indigenous Services and Northern Affairs Canada, CIRNAC, will have major detrimental impacts on the conditions that first nations, Métis and Inuit already live under.

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Ms. Rachel Bendayan

Oct/17/23 10:56:54 a.m.
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Mr. Speaker, I always appreciate the questions from my hon. colleague. They help elucidate all of us in the House as to the situation in her community. I know that in the last budget, many of us worked very hard to ensure that we had the right strategy, not just the money, but the right strategy, to address indigenous and northern housing. That was found in budget 2023. I look forward to working with the member on further issues, including the issue she raises today.

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Mr. Kevin Lamoureux (Parliamentary Secretary to the Leader of the Government in the House of Commons, Lib.)

Oct/17/23 10:57:37 a.m.
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Mr. Speaker, let me start by providing a comment reflecting on what is happening in our communities from coast to coast to coast. We do not necessarily need to be lectured by Conservatives on the issues of inflation and interest rates. We understand, as we are often told by the Prime Minister and others, that when we look at what is happening in our constituencies, it is important that we bring those concerns to Ottawa, as opposed to trying to tell our constituents what Ottawa is doing for them. If we look at the most recent budget that was passed by the House, we will find that it is very much a reflection of what is happening in communities from coast to coast to coast. People need to understand that, yes, we are very much concerned about the interest rates and the impact they are having on Canadians in a very real and tangible way. Last weekend, the President of the Treasury Board came to Winnipeg to meet with some of my constituents who are primarily entrepreneurs. We talked about the impact of interest rates. We talked about homeowners, and so forth. We also talked about the rates of inflation. We are all concerned about that. That is one of the reasons why we brought forward legislation, such as Bill C-56. That is one of the reasons we brought in the inflation or grocery rebate, affecting 11 million Canadians, last spring, which came into effect in the summertime. The budget and the type of legislation we are bringing forward are a reflection of what we are hearing from our communities. Therefore, one needs not lecture us on what is happening in and outside of the Ottawa bubble. We are very much aware of it. At the end of the day, we look at not only what is happening around us, but what the Conservative Party is saying, particularly in the motion it presented today. Today, it wants to give the impression that there is this huge debt that has been acquired over the last number of years, and there is a huge debt. It is a huge debt that, in good part, was supported by the Conservative Party when we were borrowing money to help Canadians through the worldwide pandemic, and I underline the word “worldwide”.

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Mr. Kevin Lamoureux (Parliamentary Secretary to the Leader of the Government in the House of Commons, Lib.)

Oct/17/23 11:01:13 a.m.
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Yes, we borrowed extensively, billions of dollars, in order to have the backs of Canadians. We spent that money, most of it supported by the Conservative Party, on things such as small businesses. Yesterday, I heard a Conservative member talk about small businesses being so important to Canadians and Canada as a nation. I have talked about small businesses as the backbone of our country when it comes to economic development. During the pandemic, this government spent billions of dollars supporting small businesses, preventing them from going bankrupt in many ways. We supported Canadians, who were no longer in a position to work, through programs such as CERB. Millions of Canadians were supported by billions of dollars, which did increase the debt. However, the Prime Minister, this government and many members of this chamber supported spending that money. It is like the leader of the Conservative Party giving a child a chocolate bar and then condemning the child for eating it. However, at the end of the day, it was important for the government to spend that money to support Canadians and small businesses, not to mention the billions of dollars that were there to support our seniors through one-time payments for those on GIS and OAS or individuals with disabilities. The Conservatives talk about this huge debt. In part, they supported us at the time and now they criticize us for it. They need to be more transparent and honest with Canadians about that when they criticize the government for spending money. Are they now saying, retroactively, that we should not have supported Canadians, that we should not have supported small businesses and others? That is what it sure sounds like. Today, in a question that I put forward to the leader of the Conservative Party, I challenged him on that point. It is interesting when we look at the waffling of the Conservative Party. The best example is the previous speaker, the seconder on the motion. After I posed a very straightforward question for him, the member spent so much time, as many members of the Conservative Party have, criticizing the price on pollution, or as they call it “the carbon tax”. Like their apparent flip-flop on the need to support Canadians during the pandemic, the member failed to acknowledge that he supported a price on pollution, or the carbon tax, and he was not alone. Every member of the Conservative Party who ran in the last federal election supported it. When I pointed that out, he replied that he personally did not support it. It would appear that the first thing we need to ask every Conservative candidate is whether he or she personally supports this.

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Mr. Kevin Lamoureux (Parliamentary Secretary to the Leader of the Government in the House of Commons, Lib.)

Oct/17/23 11:01:17 a.m.
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Imagine how many statements are made in an election platform and somehow the Conservative caucus believes that it is not responsible for that platform, that it can just opt out, much like it is opting out of the price on pollution. It makes one wonder about the Conservatives. The Conservatives like to talk as if they know things about finances. Today it is about budgets and deficits, even though, compared to the G7 countries, Canada is doing exceptionally well. I still remember when the leader of the Conservative Party was telling Canadians to invest in cryptocurrency, which is incredible. He still has not apologized for that. If people had followed his advice, they would have lost thousands, depending on how much they invested, 60%-plus of their investment. We need to ensure that we put things into proper perspective. Yes, let us be concerned about inflation and interest rates. Let us take actions like bringing in Bill C-56. I would suggest that the Conservative Party get behind legislation such as Bill C-56 and vote for it. It will ensure that more homes are built. It will ensure more stability in grocery prices. Actions speak louder than words.

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Mr. Greg McLean (Calgary Centre, CPC)

Oct/17/23 11:08:07 a.m.
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Mr. Speaker, it is always insightful hearing the member speak. I notice that he takes up a lot of space to speak in the House, where his other colleagues do not seem to rise to the occasion. I appreciate that he is there to do that. One thing we have to acknowledge is that inflation hurts Canadians badly. We know this. Who does inflation help? I think he has to acknowledge that it helps the government in so many ways. The government gets to raise more money from the increased activity, the increased taxes, that it imposes upon Canadians. It does not raise the base level of exemptions that happen in that respect. For instance, a house used to have a GST exemption of $350,000 when it was first built and when GST was implemented in the late 1980s. It is still $350,000, because that GST rebate has not risen. That is a problem and the government continues to collect that GST. When is it actually going to stop collecting so many taxes and start inflating the exemptions it gives Canadians?

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Mr. Kevin Lamoureux

Oct/17/23 11:09:14 a.m.
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Mr. Speaker, I hate to inform the member, but it was Brian Mulroney, a Progressive Conservative, who brought in the GST. I am okay with that. Today, I look at the GST as a progressive tax that can make a positive difference. When we think of Bill C-56, that is one of the ways to ensure that literally hundreds of thousands of additional purpose-built rentals are constructed. It is as a result of GST rebate. It is a tool. Where I really disagree with the member is with regard to inflation. This government does not look at inflation, in any form, as a positive thing. Inflation is hurting people in a very real and tangible way. That is why we brought in the grocery rebate. That is why we continue to take actions to try to minimize the impact of inflation. I am happy to say that since June 2022, when inflation was just over 8%, today, it is at 3.8%. Hopefully we will continue to bring it down to make life easier for Canadians.

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Mrs. Julie Vignola (Beauport—Limoilou, BQ)

Oct/17/23 11:10:31 a.m.
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Mr. Speaker, the motion calls for a fiscal plan to be introduced by October 25, which is next week. A fiscal plan requires predictability and planning. What would keep the government from introducing such a plan? Is it the timeline or its own inability to predict and plan?

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Mr. Kevin Lamoureux

Oct/17/23 11:10:54 a.m.
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Mr. Speaker, as a government, we have recognized the importance of having updates in regard to the economy, some of the important stats and numbers, so people can feel confident with respect to where the government is and the general direction in which we are going. There will be a fall economic statement by the minister. Of course, it takes into consideration a wide variety of consultations and working with numbers. I am not an actuary, far from it, but I believe that Canadians will be pleased once they get that fall economic update from the government.

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Ms. Lindsay Mathyssen (London—Fanshawe, NDP)

Oct/17/23 11:11:44 a.m.
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Mr. Speaker, earlier the hon. colleague was talking about hypocrisy. I just cannot get past the fact that he is taking shots at the Mulroney Conservatives for introducing the GST. I am pretty sure it was the Chrétien government, when it was running against the Conservative Party in the 1993 election, that promised Canadians it would cancel the GST. Maybe he could explain to me that level of hypocrisy and how he defines it.

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Mr. Kevin Lamoureux

Oct/17/23 11:12:23 a.m.
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Mr. Speaker, I do not know if it is a good thing or a bad thing. In fact, I was a parliamentarian back then. I can assure the member that if she had read the 1993 red book, she would have found that the commitment was, and it was in the election platform of the Liberal Party of Canada, that the Liberal Party would look at a way to replace the GST. I believe, and this was a few years ago, that it said we would like to see a harmonization of the GST so it would incorporate provinces. I am glad we have seen a harmonization, and the GST has proven to be a very good tool that can be used to support Canadians in different ways.

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Mr. Alain Therrien (La Prairie, BQ)

Oct/17/23 11:13:17 a.m.
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Mr. Speaker, I want to begin by saying that I will be sharing my time with my hon. colleague from Mirabel. In 2015, something remarkable happened in Canadian politics. At the time, the Liberals were in third place in the polls. At one point, the current Prime Minister made an extraordinary statement, something that people did not expect at all. He basically said that the Liberals were going to run deficits and that they liked doing that. He said that interest rates were low and the country is like a business, so, in those circumstances, we needed to invest in the economy. People looked at him dumbfounded and wondered what this was all about. At the time, I said that it was the first time in 40 years that a politician had said that he was going to run deficits and that he liked doing so. One thing we can say is that he really does like running deficits, because he has run up some big ones. At the time, his premise, as economists would say, was that the interest rates were low and we needed to invest in the economy. What does that look like now? Interest rates have gone up 10 times since the pandemic ended. The rate is now 5%. I am no math whiz, but that means that interest rates are quite high now. The money he is spending is not for investments, not at all, it is for current expenditures. Often, he spends frivolously. He has lost control. He is a compulsive spender. He likes that. He hands out money left and right. When he talks about spending he gets as excited as a kid on Christmas morning. Let us look at where things stand today. There are current expenditures that are outside of his jurisdiction. He has become friends with the NDP. The NDP are not compulsive spenders; they are master spenders. They like that. They watch movies, they picture themselves spending, they imagine people spending and it is all amazing. What happened is that the Liberals and the NDP started talking. The NDP said everyone needed dental insurance. However, that falls under Quebec's jurisdiction, but that was okay, the federal government was going to take care of it for Quebec. The Liberals then got to work to bring in dental insurance. I went to my dentist to get a tooth fixed, and he was in quite a state. I asked him what was the matter and he said he could not believe what was going on with dental insurance, that he had been thinking about it for two months. He said it made no sense. This spending is completely ridiculous. At one point, someone—I am not sure if it was the Parliamentary Budget Officer—talked about the excessive spending, saying that it was crazy, that it should never have been done that way and it should have been left to the experts, namely Quebec and the provinces. We are also talking about $82.8 billion in subsidies for oil companies, which are making $200 billion a year in profits. No one was shocked, but we all should be. We are talking about $82.8 billion in subsidies until 2035 to those poor folks who are already making $200 billion a year in profits. Some might call that insanity, but that is what the Liberals are doing. They bought a pipeline for fun. They say that they do not like oil, but that they are going to export oil like pigs and put the proceeds into the energy transition. I tried to explain it to my golden retriever, and he was beside himself. How can we explain that to people? The Liberals seem to believe it, to the tune of $30 billion and counting. Then there is the inefficiency of the public service. A passport costs four times more to produce than a driver's licence. Look at health care costs. The few times the Liberals have administered health care, in veterans' hospitals, for example, it cost twice as much as in the public sector in Quebec and the provinces. That is outrageous. Processing an EI application costs 2.5 times more than processing a welfare application in Quebec. Why is that? It is because Ottawa has money from the fiscal imbalance. When it has that kind of money, it does not look at how much it is spending. The carpets are thicker in Ottawa than elsewhere, and the government is having fun. We are telling them to rein it in. When the Liberals announced the 2023 deficit in November 2022, it was $30 billion. Now it is $46.5 billion. It keeps going up. We are not necessarily in an economic crisis. We are at or near full employment, and according to Keynesianism, deficits should only be run in difficult situations like the pandemic or recessions. Right now, there should be few deficits, if any. Most importantly, we should have a plan to restore a balanced budget. That is the responsible thing to do. A plan might force the government to be more conscientious about its spending. It would compel the government to tell people that it is going to try to do better, manage its finances more effectively, and take steps to ensure that an objective set out in the plan is met. As Émile de Girardin said, governing means planning ahead. This government has a hard time planning ahead. It is always reactive, but very rarely proactive. The important thing is that the plan would send a signal to the market that the government wants to get on the path to a balanced budget. This could relieve inflationary tensions. The Conservatives want to see that plan by October 25. Why October 25? Maybe they have a party or something on the agenda. They picked October 25, but nobody knows why. Why not ask to see the plan alongside the fiscal update in November? That would make sense. The Conservatives pull things out of thin air, like this date, October 25. Then they make things sound deceptively simple. They latch onto these mantras. They talk about inflation and convince themselves that they can make it go away just by talking about it. Do they have any actual proposals? No they do not. They have this kind of mystical approach to public finance. They are sitting there with a Ouija board hoping for answers. They are very good at whining and complaining, but they have no concrete proposals. When one of them does come up with a concrete proposal, the others turn a deaf ear. They do not know what to make of it. “What are you talking about?” they say. They decided to complain and talk about the cost of living, the cost of turkeys and carrots. If ever they come to power, those problems will miraculously disappear. They have no concrete proposals for helping seniors. When the grocery CEOs paraded before the committee, the Bloc Québécois offered up some proposals. Our agriculture critic came armed with a whole list of them. The Conservatives complained that it was pointless and useless. Given that they are the ones talking about the cost of living, they should have some ideas about how to address it. They say the cost of living is appalling. They are right, but do they have any concrete proposals for fixing that? The answer is no. They are also talking about the housing shortage. Stephen Harper did nothing during his nine years in office. The current situation is one of the consequences of the Conservatives' inaction. The Conservatives are not making any proposals for fixing this issue either. My colleague, the member for Longueuil—Saint-Hubert, spoke about the $900 million. The federal government needs to give this $900 million to the Quebec government so it can build housing. Do we ever hear a Conservative saying that the $900 million should be paid out? The answer is no. Then, they had an idea, which is always cause for concern. Their idea is to force municipalities to increase housing construction by 15% every year or face cutbacks in subsidies. Where does that 15% come from? They took out a Ouija board and that is the number that came out. I have spoken with municipal officials in my riding. There is a moratorium in one municipality because of a water shortage. I told the officials in that municipality that they would be forced to increase housing construction by 15% if the Conservatives were to be elected. They said that they are running out of water, and I replied that the Conservatives would cut back their subsidies. They said that if that were to happen, they would run out of water altogether. What do the Conservatives not understand? They do not talk about the labour shortage either, but that does not matter. Oil prices are high, and renewable energy is a competitor. That is what will save us from spiralling fossil fuel prices. Do the Conservatives ever talk about that? They do, actually; they say that it is futile and pointless. Seriously? In light of climate change, it is a vital solution that must be taken into consideration. As Talleyrand famously said, “All that is exaggerated becomes insignificant.” I think the Conservatives tend to exaggerate quite a bit when it comes to inflation. My colleagues may extrapolate from there. I taught economics for 20 years. When discussing the causes of inflation, I used to spend four or five hours on the subject. My students would get sick of listening to me go on and on about inflation, but it is an important subject. I would explain all the different causes, including deficits. However, we have to be careful because it is not as simple as that. When someone says that deficits equal inflation, we need to be careful. Incidentally, inflation is happening around the world, so the deficit is not entirely responsible for inflation. Of course eliminating the deficit would help, but it is not a magic solution. At some point, the Conservatives are going to have to wake up, because anyone who keeps telling lies is going to become insignificant.

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