44th Parl. 1st Sess.
October 18, 2023 02:00PM
- Oct/18/23 2:03:27 p.m.
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Mr. Speaker, the Prime Minister is running our country like he is the captain of the Titanic. He justified his record-high spending because interest rates were at historic lows. He encouraged Canadians to keep borrowing because those rates would stay low. He may as well have said that our country's finances were unsinkable.
The captain of the crew of this ship ignored all the warnings about icebergs and look where we are today. Inflation and interest rates are hitting record highs. Canadians are now running to the lifeboats as the cost of food, fuel and home heating continues to climb. Too many people are losing their jobs, their homes, their savings and any hope they had for the future. It was hubris that sunk the Titanic, but it is the arrogance and entitlement of the Prime Minister that is sinking Canadians now.
Conservatives will right the ship by axing the tax on gas and groceries. We will end inflationary deficits. Let us give Canadians a lifeline and bring it home.
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- Oct/18/23 2:11:04 p.m.
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Mr. Speaker, after eight years, the Prime Minister has added more to Canada's national debt than all other previous prime ministers combined. The Prime Minister told Canadians that his government would take on debt so Canadians would not have to, but now Canadians are paying the price for the Prime Minister's massive deficits and inflationary spending.
After half a trillion dollars of inflationary deficits, the Bank of Canada was forced to hike interest rates 10 times in just 19 months, and now monthly mortgage payments have increased by 150% since the Prime Minister took office. To keep up with the Prime Minister's inflationary spending, Canada will spend $240 billion over the next five years to service our debt.
The Prime Minister is wrong. It is not the government that is taking on debt; it is Canadians. Canadians will not be fooled. They know that the Prime Minister is not worth the cost.
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- Oct/18/23 2:14:09 p.m.
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Mr. Speaker, after eight years of the NDP-Liberal government, housing costs have doubled, and people are struggling to pay their mortgages and make rent. This is something that affects small towns and big cities across Canada and Canadians both young and old.
In a series of town halls and meetings I hosted last week, the number one concern I heard about was the cost of living's leading to a genuine fear about the future. After eight years, the Liberal Prime Minister is simply not worth the cost. Conservatives demand that the Liberals bring back a balanced budget, since we have painfully learned that budgets do not balance themselves.
Goldy Hyder from the Business Council of Canada recently said, “With long-term interest rates at the highest they have been in years, it is irresponsible to suggest that economic growth will be higher than interest rates for years to come. Governments can no longer run permanent large deficits without fear.” It is time to balance the budget to bring home lower prices for Canadians.
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- Oct/18/23 2:58:55 p.m.
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Mr. Speaker, the Business Council of Canada is warning the Liberal-NDP government that it can no longer run large, permanent deficits without fear. After eight long years, the Prime Minister has added more debt than every government between 1867 and 2015 combined, creating 40-year highs in inflation and the fastest interest rate hikes ever. There is a massive fear of a looming mortgage default crisis if the Liberals do not balance the budget now. He is just not worth the cost.
Will the Prime Minister stand up today and support our common-sense, fiscally responsible motion to bring in balanced budgets so that Canadians can keep their homes?
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- Oct/18/23 3:00:41 p.m.
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Mr. Speaker, the Prime Minister promised that interest rates were going to remain low and Canadians believed him, so they went out, bought homes and took out mortgages, but after eight years of Liberal inflationary deficits, interest rates are at a 30-year high, and many Canadian families are now finding that they cannot pay their mortgage.
In fact, the Business Council of Canada just said that governments cannot permanently run deficits without fear. Will the finance minister stop running her inflationary deficits so that interest rates will come down and Canadian families will not lose their homes?
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- Oct/18/23 3:01:55 p.m.
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Mr. Speaker, there is only one cut that we are going to make. We are going to cut about 80 members from that side of the House when we form a common sense Conservative government. When we do that, we would address the concerns, such as the ship-worker in Vancouver who is paying $7,500 a month for a mortgage.
What do they say? They talk about an AAA credit rating. How out of touch are they? They are gaslighting Canadians.
Will they cut these inflationary deficits and get interest rates under control, yes or no?
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