- Member of Parliament
- Conservative
- Abbotsford
- British Columbia
- Voting Attendance: 66%
- Expenses Last Quarter: $146,571.88
- Government Page
- Apr/26/22 2:52:27 p.m.
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Mr. Speaker, the Governor of the Bank of Canada admitted that inflation is much higher than expected. When asked to explain how to protect Canada's finances, he said, “don't spend too much”.
We know that the Prime Minister does not think about monetary policy, but Conservatives do and Canadians do, and Canadians are the ones paying the price for the Prime Minister's monetary illiteracy: higher grocery bills, gas bills and interest rates. Will the Prime Minister recognize that his reckless borrowing and spending is making things worse for Canadians?
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- Mar/22/22 10:07:53 a.m.
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moved:
That, given that,
(i) Canadians are facing severe hardship due to the dramatic escalation in gas prices,
(ii) the 5% collected under the Goods and Services Tax (GST), the Harmonized Sales Tax (HST), and the Quebec Sales Tax (QST) creates increased revenue for the federal government as fuel prices rise which compounds the pain on Canadian consumers and the economy,
the House call on the government to immediately provide relief at the pumps to all Canadians by introducing a temporary 5% reduction on gasoline and diesel whether collected under the GST, HST, or QST which would reduce the average price by approximately eight cents per litre.
He said: Mr. Speaker, I am thankful for the opportunity to speak to something that concerns virtually every single Canadian: the skyrocketing cost of living in our country. Fifty-three per cent of Canadians today say that they cannot keep up with rising prices, and I suspect that percentage is going to keep going up. Things are going to get worse before they get better.
Yesterday, at the finance committee, we had a number of Canadian economists speak to us, and they very clearly said that the cause of the inflationary spiral we are in today, which is leaving so many Canadians behind, is our federal government. Our federal government has claimed that this is a global phenomenon and there is nothing to see here, and it has washed its hands of that problem. However, these economists noted that there are two types of inflation. One is CPI, consumer price index inflation, or the cost of everyday goods and services. The second is asset price inflation, which is for some of the big assets we purchase, like housing, that are not subject to the whims of the world markets.
What is the reason this is happening in Canada? We have this inflationary spiral, where millions of families no longer have the dream of owning their own home, and the cause is profligate borrowing and spending on the part of the Liberal government, facilitated of course by the Bank of Canada through its quantitative easing, asset purchases and government bond purchases. At the end of the day, the problem is this: We have an inflationary crisis in Canada because the government has pumped excessive stimulus into our economy, effectively pumping hundreds of billions of dollars into our economy beyond what it can manage. What has happened is that we have more dollars chasing the same number of goods and services, and that drives inflation.
I know that my Liberal friends are laughing at me, saying that is not true. However, we had some of the highest ranking economists in the country at our committee, including an economist from the C.D. Howe Institute, who confirmed that the liquidity in our economy now is driving inflationary pressures. Even the Governor of the Bank of Canada admitted that things will get worse before they get better.
I will let members know that I will be splitting my time with the member for Brandon—Souris, who is also ready to speak to this very important issue.
Today, we are calling on the government to pause the GST on fuel. We are talking about gas and diesel at the pumps. We are asking the government to at least temporarily lift the GST.
Members may be asking why we are using the GST to perhaps diminish the impact of inflation on Canadians. Well, the reason is that GST is a tax on a tax. When Canadians go to the pumps and pay for their gas, there is already a fuel excise tax built into the cost. There is a carbon tax built into it too. On top of that is layered the GST. Of course, the problem with that, and the pernicious part of it, is that as the price of gas goes up and up, GST revenues go up. The government has actually reaped windfall revenues from the oil and gas sector in Canada and has this windfall because the GST is generating more and more revenue due to the escalating price of gas at the pumps, so we are suggesting that it would only be fair for the government to at least temporarily lift that GST and provide Canadians with a break.
We are calling for the government to finally, after months and months of calling for a plan, fight inflation. We as Conservatives are coming forward now to say that we have a plan. This is part of the plan. It is not the whole plan, but part of the plan is to lift the GST. There are millions of Canadians across Canada who would appreciate the 8 to 10 cents per litre at the pump they would pay less if the government heeded our call for this GST relief.
Giving Canadians a GST break is actually a simple, common-sense solution to help Canadians who are suffering because of inflation. I used the term “ common sense”. That is a rare thing in the House under this Liberal government, but we are asking colleagues to listen. We are coming forward not only with complaints, but also with solutions for the government. I am asking the government not to pour cold water on our motion. We are asking for the government to support our motion and to provide relief for Canadians, because we need real action to help Canadians make ends meet.
Colleagues know that we, as Conservatives, are always the defenders of the taxpayer. This, of course, would help taxpayers who go to the pumps to pay less GST. I would also note that this is all driven by the fact that we have an inflationary crisis in Canada. It is a significant cost-of-living crisis. Today, millions of Canadians have been priced out of the housing market. Why? The economists yesterday told us that it is because the government has pumped so much stimulus into the economy, with so much cash sloshing around, that it is driving the spiking prices for houses across Canada.
In my own community, since the Prime Minister was elected, housing prices have doubled. A house that used to sell for $500,000 in Abbotsford is a million plus today. In fact, recently some friends of ours sold their home and were expecting to get about a million dollars for it. Of course, there was a bidding war. They got $1.2 million for a house that, five or six years ago, was half a million dollars. I feel happy for this couple because this is a tax-free gain that they are experiencing, but what about all the millions of families that are lining up behind this couple and waiting to get into the housing market? Their dream of home ownership has been dashed. It has been shattered, probably forever.
Day after day in the House, we have been asking the Liberal government for a plan to fight inflation. I have been doing it and my colleagues have been doing it. Where is the plan to fight the cost-of-living affordability crisis that is facing most Canadians across the country? There has been no plan and no response from the government. In fact, the finance minister effectively has washed her hands of the whole problem by saying it is a global phenomenon and there is nothing we can do about it. Yes, there is something the government can do about it. We have brought forward a motion that would be a start. It would be a head start to addressing the inflationary crisis we have in Canada.
It is time for the government to step up for Canadians and temporarily remove the GST on gas and diesel. The least we elected parliamentarians can do is to heed the voices of Canadians who are being left behind. Inflation is at 5.7%. Wages are only increasing by somewhere in the order of 2.5%, so Canadians are being left way behind as inflation roars ahead. We need to address this problem. We have come up with a solution, or at least a partial solution. I hope my Liberal friends are listening.
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- Mar/2/22 3:03:04 p.m.
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Mr. Speaker, that is just my point. This Prime Minister has spent more and achieved less than any prime minister in our history. He has forced our central bank to jack up interest rates and created a cost-of-living crisis that has put unbelievable pressure on Canadians. With skyrocketing house prices and rising interest rates, the dream of home ownership has become a pipe dream for Canadians. Inflation is rising, the cost of everything has gone through the roof, and now interest rates are on their way up.
When will the Prime Minister take this crisis seriously and begin to take an interest in monetary policy?
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- Mar/2/22 3:01:47 p.m.
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Mr. Speaker, it is very clear that the Prime Minister still is not interested in monetary policy, but he has a keen interest in spending taxpayers' dollars. His out-of-control borrowing has left future generations with a massive debt, raging inflation and rising interest rates. Canadian families with mortgages and credit card bills are being left behind as life becomes more unaffordable.
When will this Prime Minister take an interest in monetary policy, and when will he finally turn his mind to solving Canada's affordability crisis?
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