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House Hansard - 233

44th Parl. 1st Sess.
October 17, 2023 10:00AM
Context: House Hansard - 233 - Oct/17/23
Mr. Arpan Khanna
  • Oct/17/23 1:16:09 p.m.
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Madam Speaker, now Canadians are on the brink of losing their homes and their livelihoods. Just last week, I met with a home inspector who has done seven home inspections of homes in Oxford County that are going up for bank foreclosure. That is just in one week. Normally that would be in one year. That is the true impact of rising interest rates. The Liberal government encouraged Canadians to borrow when interest rates were at an all-time low, but now Canadians have one of the highest household debts of any other G7 country. This is more than just numbers and dollars. It is about real people and the impact this has on their lives. I recently told this House of the single mother in Woodstock who cried at the door because she was struggling to put food on the table for her kids. There is the young couple in Tillsonburg who went to school and got a job but now cannot access the housing market because of the rising cost of housing. There is the senior who lives in Tavistock who now relies on handouts from his family because he cannot survive on his own. He has even looked at MAID as an option. These are real people with real, devastating human consequences. The government needs a common-sense plan. If it stops the deficits, it will stop inflation from continuing to rise, it will stop the increasing interest rats and it will stop the defaults from happening. That is why we are calling on the government to bring its financial affairs in order. We are calling on the government to introduce a fiscal plan that includes a pathway back to balanced budgets so we can decrease inflation and interest rates. We need a plan because we know that budgets do not balance themselves. I hope all my colleagues will use common sense, cap spending, cut wasteful spending, balance the budget and bring home economic stability for all Canadians.
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