44th Parl. 1st Sess.
June 14, 2022 10:00AM
- Jun/14/22 2:30:44 p.m.
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Mr. Speaker, one out of every four Canadians in this country has reported that they would not be able to afford their home if interest rates continue to rise. The Bank of Canada estimates that mortgage payments will increase by 45% by the year 2025. In response, the Liberal government said that it is not its fault that inflation is going up. That does not cut it. That is not going to help Canadians keep their homes.
Will the Prime Minister increase financial supports directly to Canadians by increasing the GST tax credit and the Canada child benefit to help families keep their homes?
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- Jun/14/22 2:32:05 p.m.
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Mr. Speaker, one in four Canadians will not be able to keep their home if interest rates continue to rise.
That means some Canadians will lose their homes, and the Liberal government says it is not its fault if inflation continues to rise. This shows a lack of leadership. The government must act now to help families.
Will the government increase direct financial assistance to families who need it to keep their homes?
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- Jun/14/22 2:32:43 p.m.
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Mr. Speaker, as the hon. member said, inflation is indeed a global issue, but we have a responsibility to be there to help Canadians who are facing these price increases.
As far as housing goes, we know that it is a real cause for concern, particularly for middle-class Canadians who hope to buy their first home. That is why the 2022 budget invests in doubling home construction over the next decade, helping Canadians buy their first home with a dedicated savings account, and curbing unfair practices that drive up housing prices.
We will continue to be there for people.
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- Jun/14/22 6:21:42 p.m.
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Madam Speaker, I appreciate the opportunity to discuss the important question of affordability tonight. Our government understands that Canadians are being hard hit by rising prices, particularly as they apply to energy and gasoline. That is why we are taking effective action to meaningfully support Canadians so they can continue to deal with this challenge.
The current rate of inflation, which is very high, is a global phenomenon that is being driven by unprecedented supply chain disruptions resulting from COVID-19 and the severe commodity disruptions that are arising from Russia's illegal invasion of Ukraine. It is a complex and multi-faceted problem, but it is not one that we are facing alone.
That is why we are already focused on implementing realistic measures to help families make ends meet. Our government has already cut taxes for the middle class, while raising them on the top 1% of earners, and we have also increased support for families and low-income workers through such programs as the Canada child benefit and the Canadian workers benefit.
In budget 2021, our government laid out an ambitious plan to provide Canadian parents with, on average, $10-a-day regulated child care spaces for children under six years old. In less than a year, we have reached agreements with all provinces and territories.
The economic benefits of providing families with subsidized family care and child care spaces really cannot be undersold or understated. The fact is that families are going to save thousands of dollars. By the end of this year, families across Canada will have seen their child care fees reduced by an average of 50%.
To support vulnerable Canadians at the other end of the demographic spectrum, we have also increased the guaranteed income supplement top-up benefit for low-income, single seniors and enhanced the GIS earnings exemption. We are also increasing old age security for Canadians aged 75 and older in July of this year. This 10% increase will provide more than $766 in additional benefits to full pensioners over the first year. More than three million seniors will benefit from this.
Our government is also returning the direct proceeds from the federal carbon pollution pricing system to their province or territory of origin, with most of those proceeds going directly to families in those jurisdictions. In 2022-23, these payments mean a family of four will receive $745 in Ontario, $832 in Manitoba, $1,101 in Saskatchewan and $1,079 in Alberta. In addition, families in rural and small communities are eligible to receive an extra 10%.
We do understand that Canadians have to pay more for gasoline these days. However, these price increases are due to events abroad, and they are completely out of Canada's control. They are the results of market forces. That is why our government will continue to help Canadians make ends meet through targeted support measures here at home. As I made clear, our government is focused on implementing realistic measures to help families make ends meet.
We will continue to do the right thing and take actions that will create jobs and growth to make life more affordable for all Canadians.
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- Jun/14/22 6:24:37 p.m.
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Madam Speaker, I will acknowledge that there are countries around the world that are facing challenges with inflation. I acknowledge that point by my colleague. He mentioned there are certain things out of the countries' control. What is within the federal government's control is what it will choose to do with $2.5 billion extra that it did not plan to have.
Canadians are struggling now. What about single Canadians? Family support is fantastic and $10-a-day child care is great. What about those who do not have children? One in seven Canadians lives in poverty. They are struggling now with the cost of gas, the cost of food and so on.
I will ask, for the third time now: Will the government help struggling Canadians and provide relief following a precedent that a previous Liberal government had done?
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