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Decentralized Democracy

House Hansard - 42

44th Parl. 1st Sess.
March 21, 2022 11:00AM
Context: House Hansard - 42 - Mar/21/22
Mr. Jean-Denis Garon (Mirabel, BQ)
  • Mar/21/22 4:23:51 p.m.
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Madam Speaker, the last two government members who spoke talked to us about the monetary policy framework and tried to reassure us by telling us that there are still two years of higher inflation ahead before it goes back down to 2%. Let me do the math for my colleague. If we include energy and food, inflation was 6% last year. If that percentage stays the same this year and the next before going back down to 2%, that translates to a 20% increase in prices over four years, or the equivalent of 10 years of inflation in 48 months. That is why we are asking that old age security be increased by $110 a month for our seniors. I would like to know if the Liberals do not know how to count or if they have simply forgotten about our seniors.
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Context: House Hansard - 42 - Mar/21/22
Mr. Ryan Turnbull
  • Mar/21/22 4:24:30 p.m.
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Madam Speaker, I appreciate the member's lesson in mathematics. Our government has not forgotten how to count. As I said in my speech, old age security and the guaranteed income supplement are indexed to inflation. The Bank of Canada has set 2% as a target, and over the course of the next five years, it will be putting a monetary policy in place, including the recent increase in the base interest rate, that will help to control inflation.
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