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Decentralized Democracy

House Hansard - 165

44th Parl. 1st Sess.
March 7, 2023 10:00AM
Context: House Hansard - 165 - Mar/7/23
Mr. Dan Albas (Central Okanagan—Similkameen—Nicola, CPC)
  • Mar/7/23 3:07:56 p.m.
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Mr. Speaker, CIBC is the first bank to show that, on 20% of its mortgages, the monthly payment does not cover interest and increases what the borrowers owe on top of their original mortgages. Does the Minister of Finance agree that, inevitably, these higher debts must be paid down? That is something that borrowers cannot afford now, let alone at a higher cost later. If she believes that is true, why does she continue to relentlessly borrow and spend when it is not only inflationary but also a debt that Canadians cannot afford today, let alone tomorrow?
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