44th Parl. 1st Sess.
December 6, 2022 10:00AM
Madam Speaker, I thank my hon. colleague for her question and her comments.
It is not complicated. As I said earlier, I firmly believe that all the members of the party currently in power want to make things better. I simply cannot believe that they are acting in bad faith, just to do things differently from what the opposition parties are proposing.
There are plenty of places where they can invest taxpayers' money in a constructive, sustainable and positive way. Health transfers are not a frivolous thing. This is an urgent need. We have been calling for a $110-a-month increase in seniors' pensions for a long time. Seniors aged 65 and over are calling for it. I cannot imagine which seniors are telling them that it is okay for the increase to start at age 75. I have not met any. None of my 31 Bloc Québécois colleagues has heard a single senior say that 75 is the right age.
There are places where the government could spend the money better and where the Liberals could make their mark. That would be positive, and we would be the first to congratulate them.
198 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, housing is obviously a necessity, and it is in crisis in many parts of the country. In the Lower Mainland of British Columbia, which I represent, housing is unaffordable.
I am wondering if my hon. colleague can tell the House what suggestions he would like to see in this budget that would help Canadian families and individuals afford a safe, secure and decent place to live.
68 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I know that I do not have much time left, and I will try to answer quickly because it is a very pertinent question.
One of our Bloc Québécois colleagues, the member for Longueuil—Saint-Hubert, is a strong advocate for housing. The entire country is grappling with this crisis. It is more acute in certain places, of course, but it is also starting to affect cities where it was not previously a major problem. We could be taking action.
The term “inflation” appears 108 times in this economic update, but there is no concrete measure to actually provide direct assistance to Quebeckers and Canadians in the event that a recession materializes.
The housing crisis will not improve unless much more vigorous action is taken. In that regard, I believe that my colleague and I very much agree.
It feels like the Liberals are standing with their arms crossed, watching a train go by, and that they will wait until it derails and pick up the pieces afterwards. We cannot do that. Action is needed now. Human beings and families are affected.
191 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, it is always an honour to rise in this House to speak. Today I am speaking to Bill C-32, an act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022, and the fiscal update.
When I spoke on the government's last fall economic statement and fiscal update in February, I shared how frustrated the people of Flamborough—Glanbrook were feeling about the cost-of-living crisis and the housing crisis. I am sad to report that over the course of the past year, and certainly after hearing the fall economic statement that was delivered earlier, their frustration has only become worse.
Canadians wanted hope, and instead they got increased heating and grocery bills. They wanted a plan for the economy and for the recovery, and instead the PBO and other organizations predicted private sector growth will be sluggish or even worse. Canadians wanted to hear an update that would give them confidence in these uncertain economic times, and instead what the government delivered was an update that failed to address the out-of-control cost-of-living crisis. It actually adds fuel to the inflationary fire. With more government spending and more taxes, Canadians have never felt more pessimistic about their financial future.
When I spoke last winter, the inflation rate was only the worst it had been in 20 years. By the spring it was only the worst it had been in 30 years. Now it is the worst it has been in 40 years. How much more can the government expect Canadians to suffer?
I spoke recently to Mary, a senior in Waterdown, a community in my constituency. She expressed how gravely concerned she was with the rising cost of rent, utilities and groceries, and how they had risen so quickly that she is barely able to manage the basics anymore. Her exact words were, “I just manage to survive, never thought my retirement years would be so sad.”
Those words “my retirement years would be so sad” break my heart, and they should break the heart of all members of this place. Seniors like Mary have worked hard their entire lives, and they deserve to enjoy their retirement years. The reckless policies of the government are robbing them of that.
It is not just seniors that are feeling the pinch; it is also young families. A couple of months ago, at one of the fall fairs in my riding, I spoke to Will, who is a father of a young family in my constituency. His mortgage renewal is coming up in a few months, and he is very concerned. Not only is he seeing his grocery bill double, but he is also seeing the cost of fuel to get to work increase dramatically. He is now seeing his heating bills increase as winter and the cold weather start to set in. In the back of his mind, he has the fact that his mortgage is coming up for renewal. We know there are higher interest rates happening because of the inflationary spending of the government.
Out-of-control government spending has created more dollars chasing fewer goods, causing higher inflation, leading to higher interest rates. We know that tomorrow the Bank of Canada is going to announce the latest in a series of rate increases, the seventh, I believe. This is going to further increase the cost on families like Will's. It is really the cruellest tax of all.
In growing suburban Ontario communities like mine, people like Will are putting on a brave face and are trying to plow through, but they are dealing with these inflationary pressures on food, home heating and they are looking down the road at their mortgage rates as well.
We ran a survey of the people in Flamborough—Glanbrook this past fall. We asked them how the cost of living was impacting them. We already knew the answer from all of these anecdotes. Over 900 people responded and the results really told the story. Ninety-four per cent surveyed said they were feeling the financial pinch, and more than half of those were going to change their habits or hold off spending plans as a result. The pinch, of course, is not limited to people in my riding. Six in 10 Canadians across the country have said that they are feeling the impact of inflation in their daily lives.
A study out of Dalhousie University reports that a quarter of Canadians are cutting back on essentials like food, housing and utilities. We know that when people go to the grocery stores these days, they are cringing at the price of some basic items. Meat is up 7.6%. Dairy is up 10%. Bakery products are up 15%. Vegetables are up 12%. Those are the figures from a couple of months ago. We know they are probably higher today.
Food banks, as has been noted, are seeing a record number of visits, with 1.5 million Canadians visiting food banks. That is a dramatic increase. It is an all-time high. It is a shame. How much more does the Prime Minister expect Canadians to take?
People like Mary and Will cannot afford to pay their mortgage and rent, while our Prime Minister is spending $6,000 a night on hotel rooms in London. Is there a more blatant example of how out of touch the Prime Minister is? How much more can the government expect Canadians to take before they break? They are looking for hope. They are looking for strong and competent leadership.
There is a host of problems and inconsistencies throughout this bill. First of all, I do not see actions lining up with words.
The government talked about the fact that Canadian farmers grow the food that feeds the world. We know we have an abundant food supply here, but we have seen the government attack farmers and slap a fertilizer tariff on them and the carbon tax on the heating and cooling of barns and the drying of grain. The growing of those crops that feed Canada and the world are breaking their operations.
Also, in the statement they said that we have the natural resources to support our allies with energy security, which sounds great, but the Liberals have been ensuring we cannot get these resources out of the ground. Just last week we saw Germany finally give up on us and sign an agreement to import LNG from Qatar instead.
Perhaps the biggest inconsistency of all is the fact the economic update was purported to help make life more affordable for Canadians. How can we make life more affordable for Canadians when we are tripling, tripling, tripling the carbon tax and increasing other taxes as we head into winter? A Conservative motion was put forward to exempt home heating fuel from some of those taxes to bring a bit of relief. That is important to people in my constituency who heat with propane or home heating oil because there is not the natural gas infrastructure in certain parts of the riding and they do not have that option. However, the Liberal and the NDP coalition voted to defeat that motion.
If I can conclude anything from Bill C-32, it might be that the Liberals are true to their form. They will tax and spend believing that will get us out of a cost-of-living crisis. We saw $30 billion more in spending. There is perhaps a grab bag of credits to give the appearance of supporting Canadians. While we certainly support relief through the GST credit, we saw a whole bunch of other money spent. What is happening is the Liberals are taking more money out of one pocket and giving a bit back and pretending it is actually going to help people.
What is happening is Liberals are profiting from inflation. They are increasing taxes on things like home heating and food, and there is the resulting interest rate increases. One of their solutions was for people to cut their Disney+ subscription. Canadians want a better answer than that.
We know the interest on the national debt that has been racked up by the government is going to exceed in the coming years the amount of money that is spent on the Canada health transfer. We have $27 billion in interest payments this year. That is money that should be and could be spent helping farmers, families and seniors rather than gobbling up their bank accounts to pay for more government spending through taxes.
That is why a Conservative government would commit to any new spending being matched by a dollar-for-dollar equivalent in savings, just as households manage their own budgets, rather than just racking up the credit card endlessly. At the end of the day, they are paying for that plus the interest rate increases they are going to see as a result of the inflationary spending.
Instead of creating more cash, Conservatives would create more of what cash buys, more homes, more gas and more food. We certainly have all the resources in Canada to do that. We will make energy more affordable by repealing some of the anti-energy laws and getting Canadian energy out to markets so we can generate jobs and economic activity here. A tax plan is not an environment plan. It is actually a tax plan. We have an opportunity to change that.
We will also make Canada one of the better places—
1613 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Dec/6/22 5:18:31 p.m.
- Watch
The hon. member's time is up, but I am sure he will be able to add during questions and comments.
Questions and comments, the hon. Parliamentary Secretary to the Minister of Canadian Heritage.
34 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I was listening to the hon. member's speech and he spoke about speaking to his constituents. I know when he was speaking to his constituents he did not talk about the rebate on the price of pollution and I am guessing he did not mention to his constituents that he ran on a carbon tax. When he was speaking to his constituents about affordability, did he mention the CCB and the fact that his party voted against it? Did he mention to his seniors about voting against rental and dental supports? Did he mention voting against the OAS and GIC increases, or is that just inflationary spending that people should not receive?
115 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, absolutely, we are opposed to inflationary spending, because what that is doing is increasing the interest rates. We are going to see that again tomorrow. People in my community who have housing prices now approaching $1.2 million on average are going to pay for that in interest rates. We know that the average homeowners in Canada are going to see, when it is time to renew their five-year mortgage, a $7,000 increase in mortgage payments. In my community, we are above the average, so people are going to see about $1,000 a month more in expense.
I think Canadians would rather pay less on their mortgage and less on interest than for the inflationary spending and policies of the government.
126 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, the member for Flamborough—Glanbrook spoke about making energy more affordable. On this point it is important that we talk about the extent to which oil and gas companies across the country are gouging folks at the pump, including in his riding. In the last year alone, the wholesale margins, in other words, the profits, are up 18¢ a litre.
Is the member concerned about this gouging that is happening? Would he not agree that more needs to be done to recover these funds and use them to invest in making life more affordable for people across the country?
103 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I respectfully disagree. Energy companies in Canada create thousands of jobs and pay millions of dollars in taxes. All of that contributes to the Canadian economy. It contributes to what we are able to pay for health care, education and the services that we value in this country. In fact, we have one of the most abundant supplies of energy in the world. It is clean. It is environmentally sourced. We are consulting with indigenous communities on extracting it. If we were to get more of our natural gas to the B.C. coast to liquefy it and get it to China, it would help that country get off coal, as it is planning to build a thousand coal plants over the course of the next years.
129 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, it is estimated that the interest alone on the debt will be greater than the combined health transfers to the provinces. How will this burgeoning, continually snowballing debt impact Canada's ability to care for our citizens?
39 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, the hon. member for Renfrew—Nipissing—Pembroke has asked this very good question many times throughout her long tenure as a member of Parliament.
It is a very important one because when we are spending $27 billion and more, growing to $30 billion, $40 billion over the course of a number of years, on interest on the debt, we are not spending that money on health care, education and the things that matter.
My mom is a retired nurse. She worked in the health care system in Hamilton, Ontario, and saw that first-hand. My dad just went through chemotherapy. I know all Canadians who have gone through health issues understand this. We value our health care system, so rather than spending $27 billion on interest, let us spend more on health care. Absolutely, that makes a lot of sense.
144 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, we will not oppose Bill C‑32, which implements the government's economic statement. Seasons may change, but this government's economic statements remain the same. We are not very excited, because this one is virtually the same as the spring economic statement, which contained nothing in the way of a constructive or reassuring vision for the people of Quebec and Canada.
The Bloc Québécois decries the economic update, which mentions inflation 108 times but does not offer a dime in extra support for recognized initiatives, such as transportation electrification, or for seniors, the unemployed, or families trying to put a roof over their heads. The cornerstone of this government's everything-old-is-new-again approach to solving problems is interference. When it comes to interfering in areas under Quebec's and the provinces' jurisdiction, none can equal this government.
Let us think about that for a minute. Retirees who contributed their entire working lives to the economic and social development of their communities, who humbly and honestly paid their taxes, as my colleague from Drummond was saying earlier, and who suddenly are 65, or 70 or 74, are being completely ignored by the government. However, the contributions they made while working were used to run the public service, including the seats in this place. Now, we thank them by telling them to go back to work, to do something else, to find a way to earn some income, to go to food banks, because there is no money for them.
All of a sudden, at 75 years of age, they receive a cheque. It is extraordinary. Sometimes magic happens, but we do not know why. We do not know what justifies it and the reason behind it.
In fact, I think that the government does not know its citizens. In any case, it does not know the citizens of Quebec. Does it have any idea what their reality looks like? That is the question. Does the government know Mr. Lucien, who no longer has affordable housing, who has to use the food bank and make tough choices to be able to afford his medication? Does the government know Ms. Mariette, who has to pay for essential home care services to be able to continue living at home because that is what she wants more than anything? She has to turn the heat off at night and eat only one meal a day so that she can continue to live at home. Does the government know Ms. Agathe and Mr. Georges, who did not make much money when they were working? Even so, they worked for 45 years and were honest about paying their taxes. Ms. Agathe is in a wheelchair because she worked as a waitress all her life and no longer has any circulation in her legs. She lives on the outskirts of the city and so she has to take public transportation to get health care. Her husband, who is a little younger than her, retired unexpectedly early because he saw that his wife was unable to get around. Today, they live at home. They have not had any additional income for more than 15 years. They are aged 72 and 65 respectively.
With inflation taking a heavy toll on seniors' meagre incomes, old age security offers little in the way of actual security because fixed costs, rising food prices and gas taxes are not going away.
What really worries me is that seniors have been getting poorer for a very long time. The government has not taken them into account when making decisions for a very long time. I think society agrees on that. We can blame a lot on the pandemic, but the health care issues we are dealing with now have everything to do with the fact that the pandemic amplified indifference, complacency and callousness on the part of both governments—for these decisions were not made by just one government—toward the people who built the Canada and Quebec we know today. By the time people reach old age, they have built their lives and contributed in the hope of benefiting from a decent social safety net. What we are seeing now is people who, if they had more money, would manage to live at home instead of crowding long-term care facilities and hospitals.
There is a whole network of interconnected issues that are the result of the government not paying attention to the seniors who built this society. I find that particularly painful, because I know many of them in my riding. They are upright, reliable and honest people who have really given everything in the hope of receiving a little something. Now the government is telling them that it is not going to happen.
It seems that there is no accountability at the federal level these days. No one is accountable for anything. Things go wrong, but it is nobody's fault. Neither the Conservatives nor the Liberals are accountable for their past actions. To hear them tell it, each party has done much better than the other and nothing is their fault. It must be that thing called fate, or the evil pandemic, or the global inflationary crisis.
Then there are the excessive oil investments and environmental failures—both of which make people sicker and sicker—but they are nobody's fault. Elderly people and the unemployed find themselves on the street, but it is nobody's fault. Small and medium-sized businesses are closing down because there are no accommodating tax provisions for them, while foreign and oil mega-corporations conveniently squirrel their profits away in tax havens, but that is nobody's fault.
On top of that, people need to be asked more and more to have confidence in politics, so we go on plastering faces on placards during every election campaign, when we have the nerve to tell people we will be forming government and doing great things for them. Yes, the government will do things like interfere and impose its position and its assessment of the reality facing seniors, as if there could suddenly and magically be two categories of seniors. It will also interfere by determining how much money will be paid into the health care system and, more importantly, how the provinces will spend it, when the federal government has no idea what choices the provinces must make in managing health care.
Let me give an example. In Quebec, we want to encourage seniors to remain in their homes. If the government offers money on the condition that we invest only in hospitals and long-term care facilities, is that a good condition for Quebec? The answer is no. That is one reason why we do not want conditions. We want the money that, in principle, is owed to us.
The government likes to interfere in provincial jurisdictions, and so it is interfering in the protection of the French language with a bill that I would describe as odious and that will paralyze all of Quebec's efforts to impose the use of French in federally regulated businesses and to teach French to new Quebeckers. The government is also interfering in the housing sector and property taxes. It watches everything and tries to make its way into every sector.
It is also perpetuating the status quo on employment insurance. We have been waiting for EI reform for years. There are new realities in the labour market such as seasonal work and self-employed workers. With respect to employment, there are support measures for people who suffer from serious illnesses, illnesses that are becoming more prevalent than they were 15 or 20 years ago. I am also thinking of Émilie Sansfaçon, who left behind two children. She came to this place, despite being under treatment and not feeling well, to raise awareness and ask the government to change its position and support seriously ill people looking to heal with dignity.
I will conclude my speech by saying that the independence movement did not come out of nowhere. It is not a delusion. It is not a bubble in the brain of someone who appeared just like that. The independence movement is a movement that advocates free management of its own public funds, a movement that wants to take its own direction.
I think that the Government of Canada is a Titanic right now. It has not noticed, but the hull has been breached. I hope it will realize this fact before meeting the iceberg of opulence, because opulence is fatal in the eyes of our constituents.
In Quebec, our hull is solid and our engines are remarkable. We are successful. Resources are invaluable and almost unlimited. We have unique economic development levers—
1481 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- Dec/6/22 5:33:48 p.m.
- Watch
I must interrupt the member because she has far exceeded her speaking time.
The hon. member for Saint John—Rothesay.
21 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, as a government, we often hear about everything we are doing wrong. It seems to be one thing after another. Certainly, the official opposition is quick to remind us that we cannot manage the economy, yet it ran nine straight deficits. The economy was in a mess when we took over.
In the fall economic statement, we came forth with a lot of good programs. To be sure, we hear from the party opposite about eliminating the tax on home heating, which would be about $40 or $50 per tank, but what about the doubling of the GST credit? What about the elimination of interest on student loans? What about the rent support? What about all of the programs we have offered that will help Canadians through the situation we are in now?
Can the member opposite tell us which of those programs she would cut?
148 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, there are a number of programs that we helped the current government develop. We are satisfied with some of those programs, but what bothers me and what I would tell my colleague is that there are not enough programs.
The government needs to improve its overall economic management to be able to offer more services to the public through new programs, those that we have long been calling for.
71 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, this afternoon, during oral question period, we heard the member for Gaspésie—Les Îles-de-la-Madeleine make preposterous comments that cast aspersions on the Auditor General.
The Auditor General's report was tabled today and, in it, we learned that the government overspent approximately $23 billion, if I am not mistaken.
In keeping with the really great speech my colleague gave, I would like her to draw a parallel between the money wasted and the economic statement, which contains nothing new and no additional measures.
93 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I thank my wonderful colleague for his question, which allows me to elaborate on my comments.
The $23 billion that the Auditor General mentioned is likely money that could be allocated to the various programs we were talking about earlier.
What worries me even more is that, at the moment, the government is checking whether CERB was paid out to the right people. People are being asked to pay the government back, then the government realizes that it was correct after all and gives the money back to them. Meanwhile, the Titanic is headed for the iceberg.
During the pandemic, we suggested that the government should be careful about handing out the CERB. It has access to the annual income of anyone who pays taxes, so it could have easily directed supports to where they were needed most, and we would not have the problems we are facing today. We would be much further ahead.
158 words
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, the member mentioned in her speech that not a lot is different from the spring economic statement. I would highlight that we experienced hurricane Fiona on the east coast, and spending was dedicated to that for rebuilding Atlantic Canada and eastern Quebec.
I wonder if the member could comment on how important it is to help rebuild resilient communities moving forward in the future.
66 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, of course there should be a climate change resiliency piece and a fund. We are no longer talking about what is going to happen 15 years from now. It is happening now. It is important to acknowledge that because water levels are rising, and fast. The government absolutely has to make this situation a priority.
What we want to see is that $23 billion, which people are searching high and low for, being available the minute the storm hits. That would mean money to support small boat harbours, fishers and anyone affected. We absolutely need a fund to help communities face clear and present climate change.
109 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
Madam Speaker, I rise to speak to the government's fall economic statement, a fiscal and economic blueprint that falls short.
The Conservatives called on the Liberals to do two important things. First was to stop the deficit spending that is fuelling inflation and driving up the cost of living for everyday Canadians. Second was for the government to commit to no new tax hikes. After all, Canadians are facing a cost of living crisis as a result of 40-year-high inflation being driven by the Liberal government's reckless spending. Food inflation has hit double digits. One in two Canadians is $200 away from insolvency, and an astonishing 1.5 million Canadians are going to a food bank every month, which is a 35% increase from last year.
The Liberals often say that they have the backs of Canadians. Well, in the face of a cost of living crisis, the least one would expect from a government that truly had the backs of Canadians is for it to commit to no new tax hikes. However, what we learned is that those are just more empty Liberal words, because they did not do that; they did the opposite, with tax hikes that are going to hit workers, seniors, families and small businesses.
This starts with a payroll tax hike on January 1, not to be outdone by a carbon tax hike on April 1, which will further drive up the cost of essentials, including gas, groceries and home heating. The carbon tax, by the way, has done nothing to reduce GHGs, which have gone up not down under the Liberals' watch. It is a carbon tax that the Governor of the Bank of Canada has determined exacerbates inflation, causing a 0.4% increase in inflation, further worsening the cost of living crisis.
When it comes to spending, the government doubled down on its failed inflationary policies. We saw $20 billion in new inflationary spending, and that is on top of half a trillion dollars in new deficit spending over the past two years.
The Liberals will claim that this is as a result of COVID, except the Parliamentary Budget Officer has clarified that it is not and that 40% of the half a trillion dollars in spending pertains to non-COVID-related measures. The evidence of this is that after all the COVID programs and supports expired, government spending increased an astonishing 30% in just two years. The government has a spending problem.
Why all the spending? Simply put, the government measures its success on how much it has spent, as opposed to what it has delivered, and the results are not positive. Let us look at a few Liberal lowlights.
It gave $35 billion to the Canada Infrastructure Bank, which was supposedly going to leverage private sector investment to get infrastructure projects completed. However, after six years, not a single infrastructure project has been completed. After $35 billion and six years, there is not a single infrastructure project. Talk about taxpayers not getting value for their money.
The Liberals brag about spending $40 billion on housing. Has that increased the housing supply? Has that made home ownership more accessible? No. Housing prices have doubled on the Liberals' watch.
Then there is the $54-million app, the ArriveCAN scam, as it has become known, that should have cost $250,000 instead of $54 million to complete. It should have never been built in the first place given that it caused travel chaos and resulted in more than 10,000 healthy Canadians needlessly having to quarantine.
Today, there was a shocking Auditor General report that determined that $32 billion of the Liberals' COVID spending went to recipients who should not have received the money. It was $32 billion out the door and wasted. To put $32 billion in perspective, the government spends $45 billion on the Canada health transfer, so nearly three quarters of what the federal government spends on health care annually was wasted, out the door and gone.
We talk about waste and mismanagement, but the Liberal government is not one to learn lessons, because in the fall economic statement, $14.2 billion was found to be unannounced by the Parliamentary Budget Officer. There were no details about where that $14.2 billion is going. When my colleague, the member for Charleswood—St. James—Assiniboia—Headingley, asked the finance minister where the $14.2 billion was going, she could not say or would not say. All we know is that it is a blank cheque to who knows what. Talk about a lack of transparency. Talk about a lack of respect for the sweat-soaked tax dollars of hard-working Canadians.
For all of this spending, what do we have? We have 40-year-high inflation. If we listen to the Liberals across the way, they act as though they are bystanders to the 40-year-high inflation, except they are not. Their policies have driven it. Let us look at the facts.
To pay for half a trillion dollars of deficit spending, the Liberals, through the Bank of Canada, embarked on a policy of quantitative easing, something the Canadian government has never done before. It is essentially money printing. What happened over two years? The money supply increased by half a trillion dollars, on par with the Liberal government's half a trillion dollars in deficit spending. This is not a coincidence. What we have seen is a 27% increase in the supply of money at only a 2% rate of economic growth. We cannot have cash outbid goods and services tenfold and not have inflationary pressures, and that is precisely what has happened as a result of the government's out of control spending.
The finance minister is fond of saying she will not take lessons from the Leader of the Opposition. I would say to the Minister of Finance that she should start listening to the Leader of the Opposition, because it was the Leader of the Opposition who was among the first to sound the alarm that all of this spending was contributing to inflation. Had the finance minister listened to the Leader of the Opposition, we would not be in this inflationary mess that is pummelling everyday Canadians.
1048 words
All Topics
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
