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House Hansard - 100

44th Parl. 1st Sess.
September 22, 2022 10:00AM
Context: House Hansard - 100 - Sep/22/22
Mr. Lloyd Longfield (Guelph, Lib.)
  • Sep/22/22 5:09:54 p.m.
  • Watch
  • Re: Bill C-30 
Madam Speaker, it was refreshing to hear a detailed economic presentation from the hon. colleague across the way, and one that is not putting forth simple answers. The hon. member mentioned the targeted programs trying to do one-time transfers to people who are getting hurt the worst in a way that will not stimulate inflation, and that balance is very difficult for us to make and for the Bank of Canada to make in conjunction with us. The constrained supply cycle that we are in right now is one that is unusual for us to deal with. Could the hon. member comment on how we need to be nimble in the months ahead, knowing that we could be facing higher unemployment and we could also be facing other challenges on the road ahead?
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Context: House Hansard - 100 - Sep/22/22
Mr. Gabriel Ste-Marie
  • Sep/22/22 5:10:49 p.m.
  • Watch
  • Re: Bill C-30 
Madam Speaker, I thank my colleague from Guelph for his comments and his question. I quite agree with the issues he raised. The global economic outlook is uncertain, especially considering the central banks' fight against inflation and the entire context that I referred to. Most economists expect there will be a recession in Europe, especially with the war in Ukraine, which is having serious consequences there. It will be very difficult to get out of. China is also experiencing a major economic slowdown. The unemployment rate among young people is especially high in the major cities. It is very concerning because China is still the workshop of the world, or at least a major production centre. Then there is Canada and the United States. What will happen? We expect a slowdown. The latest figures are less encouraging. In the meantime, I believe that the labour market is going through a transformation, and comparing current job market statistics with the ones from a few years ago is tough. We have to be very alert and careful for the next steps.
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