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Decentralized Democracy

House Hansard - 312

44th Parl. 1st Sess.
May 9, 2024 10:00AM
Context: House Hansard - 312 - May/9/24
Hon. Andrew Scheer (Regina—Qu'Appelle, CPC)
  • May/9/24 2:20:56 p.m.
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Mr. Speaker, after nine years of the NDP-Liberal Prime Minister, Canadians are getting poorer. His inflationary deficits are pushing up inflation and interest rates. That is because, when the Prime Minister goes into the markets and borrows billions to fund his spending spree, that bids up the interest rates for everyone else. A new report from the Bank of Canada is shocking. Average mortgage payments will rise by more than 20% in the next couple of years. Where the heck are Canadian families supposed to come up with an extra few hundred dollars just to pay higher mortgage payments for the homes they already own?
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Context: House Hansard - 312 - May/9/24
Mr. Gérard Deltell (Louis-Saint-Laurent, CPC)
  • May/9/24 2:25:42 p.m.
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Mr. Speaker, you will be pleased to hear that the opposition and the government worked in perfect co-operation today in committee. Thanks to the member for Mégantic—L'Érable, the Minister of Housing knows that July 1 is moving day in Quebec. This has been the case for the past 50 years. The Minister of Housing knows it now, thanks to us. Just because I am saying this with a smile does not make it pleasant, quite the contrary. July 1 can be the worst day of people's lives, as we have heard from folks who work with those who are struggling. The Bank of Canada has confirmed today that people will be paying more for their rent or mortgage. What is the government going to do to help them?
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Context: House Hansard - 312 - May/9/24
Mrs. Rachael Thomas
  • May/9/24 8:08:36 p.m.
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Madam Speaker, the hon. member asked me to comment with regards to the mental health of Canadians. There is plenty of evidence to show that mental health is directly affiliated with an individual's economic well-being. When they cannot pay their mortgage, when they cannot pay their rent, and they are lining up at a food bank in order to survive, when they are sending their kids to school without getting the proper nutrition in the morning, yes, that does weigh on them. I am so sorry, you are laughing—
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Context: House Hansard - 312 - May/9/24
Mr. Dan Albas
  • May/9/24 11:04:32 p.m.
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Mr. Speaker, the Bank of Canada put this out yesterday: “Higher debt-servicing costs reduce a household’s financial flexibility, making them more financially vulnerable if their income declines or they face an unexpected material expense.” I have talked about all the billions of dollars that the government does not have and that it has been borrowing and spending. Could the member opposite please explain how what the Bank of Canada is warning for personal households and their inability to handle that much mortgage is any different for a Prime Minister who has doubled the debt and has spent more than all prime ministers combined?
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