44th Parl. 1st Sess.
December 8, 2021 02:00PM
- Dec/8/21 2:45:46 p.m.
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Mr. Speaker, why can he not just make that announcement right now? His lack of policy on this has created a lot of instability, and what that translates to the average Canadian is that they cannot buy Christmas presents. They are struggling with maxed-out credit cards.
What we have here is a Prime Minister who does not understand that it is his responsibility to set this policy. The Bank of Canada should be solely focused on keeping life affordable for Canadians. Will the Prime Minister announce today that he intends to renew this exact mandate?
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- Dec/8/21 2:46:19 p.m.
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Mr. Speaker, as members of this House well know, monetary policy and the work of the bank is independent of the work that politicians do. There are very clear rules around how we create those mandates, how we renew those mandates. Those rules on this side of the House will be followed. I can reassure Canadians that the current mandate does have the target of 2%, and we will be renewing the mandate in the coming days.
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- Dec/8/21 2:46:50 p.m.
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Mr. Speaker, except the Canadian economy has seen inflation blow way past that target, and the average Canadian knows that.
The average Canadian right now cannot buy Christmas presents. I know that the Prime Minister might not understand what it is like to be struggling with a maxed-out credit card, but most Canadians do. That means understanding that he should be telling the Bank of Canada to focus on keeping life affordable, not making economic or fiscal policy. That is his job and the job of this place. So, will he today, very basic and very simple, say that he will keep that target at 2% through the mandate?
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- Dec/8/21 2:47:27 p.m.
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Mr. Speaker, we will be making an announcement in the coming days and weeks.
The reality is that Conservatives have been misrepresenting this inflation crisis for the past many weeks. It is a result of the disruption around COVID-19. It is a result of disrupted supply chains.
We are continuing to be there to support Canadians, whether it is with $10-a-day child care, whether it is historic investments in countering the housing crisis, whether it is supports for seniors and supports for young Canadians. We have made a promise that we would have Canadians' backs. Despite some Conservatives complaining that we have done that too much, we will continue to have people's backs.
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- Dec/8/21 2:48:07 p.m.
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Mr. Speaker, “misrepresenting this inflation crisis”, tell that to someone in Kelowna today who is paying $1.67 a litre for gas. Tell that to the single mom who is trying to fill up her tank with gas, or the person who is trying to buy her spouse a hockey jersey that is costing $100 more this year or is paying $600 a month in interest on a credit card.
The Prime Minister has misrepresented to Canadians his ability to manage a basic economic crisis. What he could do today to reassure Canadians is tell them that he understands this, he is going to quell this crazy talk about the Bank of Canada wading into policy that he has responsibility for, and is keeping inflation at 2%.
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- Dec/8/21 2:48:48 p.m.
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Mr. Speaker, over the past weeks, what have we seen from the Conservatives? They tell Canadians about the problems they are facing with decreased affordability, increased prices on everything, difficulty buying gas, difficulty buying computers, and they shrug and say, “Oh, it's just inflation”. Well, it is not just inflation; it is the focus that we have to have to continue to invest in Canadians.
They play board games. We are focused on delivering on housing, child care and support that Canadians need, while the Conservatives play cheap political games.
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- Dec/8/21 2:49:41 p.m.
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Mr. Speaker, a recent survey of young Canadians between 18 and 24 across major cities in Canada has found that the vast majority of them do not believe they will ever be able to own their own homes. Rent—
Some hon. members: Oh, oh!
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- Dec/8/21 2:49:54 p.m.
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I am going to ask the hon. member for Burnaby South to pause for a second.
I am having a hard time hearing him. Everybody wants to hear the question.
The hon. member for Burnaby South from the top, please.
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- Dec/8/21 2:50:06 p.m.
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Mr. Speaker, a recent survey of young Canadians between 18 and 24 years of age across major urban centres in Canada has found that the vast majority of them believe that they will never be able to own their own places. Rent is going up, it is expensive to find a place to call home and the Prime Minister is not responding to this crisis with the urgency it requires.
What does the Prime Minister have to say to young people who have given up on ever being able to own their own homes, who are worried if they can ever find a place that is in their budget? What does he have to say to them?
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- Dec/8/21 2:50:44 p.m.
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Mr. Speaker, every Canadian deserves a safe and affordable place to call home. That is why in 2017 we brought in the national housing strategy that has supported the creation of nearly 100,000 new units, repaired over 300,000 more across all housing programs and helped families get the housing they need. We have had a particular focus on first-time homebuyers and young homebuyers with things like the first-time homebuyers incentive, the rapid housing initiative, the Canada housing benefit and reducing the fees for purchasing a new home.
These are things we have taken specifically to help young people buy a home. We are going to continue to do those things.
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- Dec/8/21 2:51:26 p.m.
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Mr. Speaker, the Prime Minister can continue all he wants. He has been in power for six years and in those six years, housing prices have gone up. It is more unaffordable. It is harder to find a place to call one's own after six years of the Liberal government being in power. The government asks what it can do. It can do a lot. There are some concrete steps it can take. It can end blind bidding, it can tackle house flipping and it can put a tax on foreign buyers. It can do that, and do it immediately.
Why will the Prime Minister not use the fiscal update to put in place these measures to stop the housing prices from continuing to skyrocket?
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- Dec/8/21 2:52:07 p.m.
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Mr. Speaker, I have to admit, I am always open to hearing suggestions from the members opposite on how we can work together in this Parliament to deliver things. I was sort of pleased, though, to hear that the three initiatives he said were all three initiatives we proposed in our platform just a few months ago.
We will continue to work with them and with all parliamentarians to deliver concrete solutions for homebuyers. We will deliver aid to Canadians to help them through this housing crisis, because we need Canadians to be able to afford their new homes, to be able to get into safe, secure housing, and that is exactly what we are going to do.
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- Dec/8/21 2:52:49 p.m.
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Mr. Speaker, this government has had the backs of small businesses throughout the pandemic by helping them stay open and keep employees on the payroll. People and businesses in my riding of Newmarket—Aurora are concerned about the health and the economic impacts that the omicron variant might bring.
Can the Prime Minister please tell this House what this government is doing to support Canadian business through the COVID pandemic?
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- Dec/8/21 2:53:16 p.m.
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Mr. Speaker, I thank the hon. member for Newmarket—Aurora for his tireless advocacy for the people in his riding.
We introduced legislation to provide targeted support to those who are financially affected by the pandemic, including caregivers and those with COVID-19, and ensure no one is left behind at this critical moment. The measures in this bill are essential in finishing the fight against COVID-19, making sure the hardest-hit sectors are part of the recovery and creating jobs.
I urge all members in this House to support its speedy passage.
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- Dec/8/21 2:53:54 p.m.
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Mr. Speaker, the Prime Minister's response was just incredible. He said even after house prices increased by a third, he did not think about monetary policy; even after gas prices hit $1.60 in some places, he did not think about monetary policy; even as CPI hit a two-decade high, he did not think much about monetary policy, because he only thinks about himself.
Will he not admit that what it took for him to start thinking about inflation is when we put his name in the word?
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- Dec/8/21 2:54:32 p.m.
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Mr. Speaker, from the very beginning we have been focused on having Canadians' backs. Whether it was back in 2015 when we were elected on a promise to support the middle class and people working hard to join it after 10 years of Conservative mismanagement, we have actually delivered for Canadians. Whether it is on the housing strategy, whether it is on support for seniors, whether it is on support for families, through this COVID pandemic, we have been there for them. Even though the member for Carleton kept saying we were doing too much for Canadians, we continued to step up and have their backs. That is exactly what we are going to continue to do because Canadians deserve our support. They do not deserve Conservative games.
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- Dec/8/21 2:55:12 p.m.
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Mr. Speaker, on October 28, 2020, the finance minister promised Canadians they would have deflation. For the Prime Minister's benefit, that means prices go down. Today the Bank of Canada confirmed that we have inflation. Again, for those who do not think about monetary policy, that means prices go up. Everything the Liberals said would go down is going up and everything they said would go up is now going down.
Now that the Prime Minister has himself spinning in circles and saying his own name here on the floor of the House of Commons, will he finally admit that what we have in this country is just—
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- Dec/8/21 2:55:51 p.m.
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- Dec/8/21 2:55:55 p.m.
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Mr. Speaker, we have seen over the past many weeks Conservatives simply try to play attacks, fling mud, label and distract, when the reality is Canadians deserve support. Canadians deserve a government like ours that continues to invest to support them with historic investments in infrastructure and housing, with supports for families and seniors.
The Conservatives continue to complain that we were investing too much through the beginning of this pandemic to support Canadians. What we have seen is our economic recovery is actually better than most of our peers because we were there for Canadians.
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- Dec/8/21 2:56:36 p.m.
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Mr. Speaker, the Prime Minister got confused when he was asked what is this famous middle class he is always talking about. It turned out he said it is those people who live off their income instead of their assets, except that inflation hits folks who live off income the hardest because their paycheque is worth less, while helping those people, like him, who live off ancestral assets. Their assets appreciate and inflate in value.
Maybe the reason he does not think about inflation is because he benefits from it. For example, could the Prime Minister tell us how much his mansion in the Laurentians has inflated in price since he took office?
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