Hon. Yonah Martin (Deputy Leader of the Opposition): Government leader, according to statistics released by the Office of the Superintendent of Bankruptcy, a total of 25,809 consumers filed for insolvency, up 2.3% from the previous three months. Consumer insolvency filings have jumped nearly 25% in the third quarter of this year compared to the same time last year. With the rising costs of food, fuel and taxes, it’s clear Canadians are reaching the breaking point. Canadians need certainty, and they need relief now.

Senator Gold, when will the government provide the assurances Canadians need by cancelling their planned tax hikes?

Senator Martin: Government leader, not everyone has an inflation-proof job. The number of Canadian families seeking debt relief is increasing. In September alone, the number of insolvencies rose by 3.1% — and they are not alone.

In the third quarter, the total number of Canadian business insolvencies increased by 48.5% compared to last year: almost 50%. Increased borrowing costs, inflation, production and labour issues, as well as a government that won’t cap its own spending have created the perfect storm. Leader, when will the government cap their spending and cancel their planned tax hikes?