44th Parl. 1st Sess.
June 7, 2023 02:00PM
- Jun/7/23 2:26:46 p.m.
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Mr. Speaker, today, we are seeing yet another human tragedy unfold because of the huge, unexpected interest rate hike, which is going to force Canadians to either sell their homes or default on their payments.
The Prime Minister promised that interest rates would stay low for a long time. However, his spending fuelled inflation, forcing the Bank of Canada to raise interest rates.
How much will the average family see their monthly mortgage payments go up by over the next three years?
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- Jun/7/23 2:27:29 p.m.
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Mr. Speaker, over the past few months, I have talked to many Canadians who shared with me their concerns about the cost of living, global inflation and the current economic situation.
Obviously, the Bank of Canada continues to do its job, but we will also continue to do ours with non-inflationary measures that will provide targeted assistance to Canadian families. Whether it is help with dental care for children, help for low-income workers or help with the grocery rebate, we will be there.
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- Jun/7/23 2:28:12 p.m.
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Mr. Speaker, the Governor of the Bank of Canada said that this government's deficits are driving up inflation. A former Liberal finance minister said this Prime Minister's inflationary deficits are like stepping on the gas pedal of inflation, while the Bank of Canada has its foot on the brake.
Canada has the highest level of household debt in the G7. Canadians can no longer afford these deficits.
Can the Prime Minister at least tell us by how much mortgage payments will go up over the next three years?
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- Jun/7/23 2:28:54 p.m.
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Mr. Speaker, we know that Canadians are going through tough times. That is why our government is there to invest to help Canadians in a targeted, non-inflationary way.
The Conservative Party wants us to provide less assistance to low-income Canadians, less help for dental care for families who need it, and less help for day care for families with young children.
We will continue to be there to help people through these tough times, because that is our job.
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- Jun/7/23 2:29:33 p.m.
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Mr. Speaker, a sucker punch is what Canadians received from the Prime Minister. He promised them low interest rates for a long time. He said that debt was without consequence and that the budget would balance itself. None of those things came true, and interest rates are now 19 times higher than they were a year ago.
The Governor of the Bank of Canada, the former Liberal finance minister and countless other experts agree that the Prime Minister's deficits are ballooning inflation and, therefore, interest rates.
Families have to plan their finances. Will the Prime Minister indicate by how much the average family will see monthly mortgage payments go up over the next three years?
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- Jun/7/23 2:30:15 p.m.
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Mr. Speaker, while the Bank of Canada continues to do its job to drive down inflation, which is going down, we will continue to do our job to be there to support Canadians who need it. We are making investments in things like dental care, a grocery rebate and supports for low-income renters. These are the kinds of things that Conservatives would be cutting instead.
Canadians are hurting, and the Conservatives' answer is cuts to programs, cuts to supports for families and cuts to Canadians at a time when they need it. Austerity is not the answer, and a responsible fiscal approach is. That is exactly what we are doing by supporting Canadians who need it.
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- Jun/7/23 2:30:59 p.m.
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Mr. Speaker, austerity is exactly what Canadians are feeling in their household budgets today, while the government budgets overflow with abundance. There has already been a 16% year over year increase in the number of Canadians missing their mortgage payments.
After eight years under the Prime Minister, we have the highest household debt in the entire G7. Household debt is now 7% higher than our entire GDP. Now the Prime Minister's inflationary deficits are shooting up interest rates.
How much more will the average family have to plan to pay in mortgage payments per month?
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- Jun/7/23 2:31:39 p.m.
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Mr. Speaker, Canada has the best debt-to-GDP ratio in the G7. We have the lowest deficit in the G7, but the Leader of the Opposition wants us to do far less to support Canadians who need it right now. That is exactly backwards. His pursuit of ideological gains is hurting Canadians.
We are going to continue to be there in responsible, targeted ways, keeping our fiscal responsibility at the centre of what we do, while we support Canadians in targeted, noninflationary ways. That is what Canadians need right now.
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- Jun/7/23 2:32:20 p.m.
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Mr. Speaker, it is not just me anymore pointing out that deficits drive inflation. It is Liberals. It is former Liberal finance minister John Manley, who said that the Liberal deficits are “a bit like driving your car with one foot on the gas and the other on the brake generally, especially if there's slushy conditions under your tires.” He is pointing out that the Prime Minister presses his foot on the inflationary gas pedal while the Bank of Canada has to press on the brakes. The engine is eventually going to blow.
We know Canadians cannot pay their bills. Will the Prime Minister be honest today and tell Canadians how much their mortgage payments will go up because of these rate hikes?
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- Jun/7/23 2:33:07 p.m.
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Mr. Speaker, let us use a specific example of what the Leader of the Opposition calls inflationary spending. We made a decision that kids under 12 in this country should not have to pay for dental care. Their families should be able to send them to the dentist. Conservative politicians, who all have access to dental care through the House of Commons supports for their kids, do not think that Canadians who cannot afford to send their kids to the dentist should be doing that, and they say that is inflationary. That approach around cuts and austerity is not what Canadians need.
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- Jun/7/23 2:33:49 p.m.
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Mr. Speaker, I am appealing to the Prime Minister's sense of statesmanship.
Yesterday, his hand-picked special rapporteur had to admit to a parliamentary committee that his report contradicts the testimony of a parliamentarian who was the victim of Chinese interference and intimidation. The best excuse he could come up with was that he had drafted the report based on what he knew at the time.
He also had to admit that this means his report is incomplete. This is a report that is critical to keeping this country's citizens and parliamentarians safe, yet the author admits that it is incomplete. The House has stated several times that, worse yet, this report is potentially biased.
Will the Prime Minister agree to end Mr. Johnston's mandate?
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- Jun/7/23 2:34:35 p.m.
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Mr. Speaker, we all know that the leader of the Bloc Québécois is not going to accept my answer as an answer to his question.
However, he has the opportunity to see the answers for himself. He has the opportunity to accept a briefing from our security and intelligence agencies, who will clarify the basis of the findings in the former governor general's report.
Like the leader of the Conservative Party, the leader of the Bloc refuses to accept these top secret briefings that would allow him to understand the underpinnings of our concerns.
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- Jun/7/23 2:35:19 p.m.
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Mr. Speaker, I refuse to see in secret what should be seen by everyone. What I am proposing to the Prime Minister is a type of truce.
If Parliament would appoint an independent commissioner who would decide what should or should not be public, we could move on to other things.
Otherwise, we will have to ask and keep asking repeatedly how the Prime Minister can retain a rapporteur who is his friend and who admitted that his report, which was crucial to the security of his nation and mine, is incomplete and biased. He admitted that he did not speak to the Chief Electoral Officer or the Chinese nationals he is responsible for—
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- Jun/7/23 2:36:01 p.m.
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The right hon. Prime Minister.
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- Jun/7/23 2:36:04 p.m.
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Mr. Speaker, the leader of the Bloc just said that he refuses to see in secret what should be public.
I completely understand that he is committed to his role in opposition and that he never expects to govern. However, as a leader and parliamentarian, he should understand that his responsibility to serve Canadians well comes with the opportunity, and even the duty, to dig deeper into the facts, something the public cannot do.
When it comes to national security, there are reasons why we must be discrete with the facts. He can be apprised of them.
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- Jun/7/23 2:36:46 p.m.
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Mr. Speaker, ironically, as Canada is burning, today is Clean Air Day. Wildfires have made air quality hazardous for children, pregnant women and anyone with respiratory problems. We know that global warming will cause more and more wildfires.
What will it take for the Prime Minister to realize that now is the time to act to save our environment?
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- Jun/7/23 2:37:16 p.m.
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Mr. Speaker, I agree completely. The irony is not lost on me that today is Clean Air Day in our country. These forest fires are worse than the ones in previous years, but they are not the worst we will ever see. In the years to come, the situation will only deteriorate.
Here in this House, however, the Conservative Party is still debating whether we should fight climate change at all instead of debating how we will fight climate change.
Our government is going to keep fighting climate change and protecting Canadians.
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- Jun/7/23 2:37:59 p.m.
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Mr. Speaker, it is clear that the government has not taken the climate crisis seriously. Its actions show that very clearly.
Today is supposed to be Clean Air Day, and at the same time our country is burning. We can even smell the smoke in this chamber. Our country is literally on fire and the Liberal government thinks that business as usual is fine. We have a Conservative Party that is in full denial mode.
When will the Prime Minister realize we have to take this crisis seriously, we have to protect our environment and we have to protect the air for our kids and for our future?
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- Jun/7/23 2:38:39 p.m.
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Mr. Speaker, not only are we the government that has done more to fight climate change than any previous government in history, but independent expert evaluators judged our environmental plan in the last election as being significantly stronger than even the NDP's environmental plan. Unfortunately, we are caught in a debate where Conservatives are still arguing about whether or not we should be fighting climate change, instead of contributing to a debate around how best to fight climate change.
We have put forward a price on pollution that is changing corporate behaviour and driving down emissions. The Conservatives stand against it, but they do not have anything to offer.
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- Jun/7/23 2:39:21 p.m.
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Mr. Speaker, yesterday, David Johnston, the loyal rapporteur of the Prime Minister, his ski buddy, his cottage neighbour, his dinner companion and member of the Trudeau Foundation, was incapable of seeing any conflict of interest. I can understand why our ethically challenged Prime Minister would be oblivious to this, but for a lawyer, law professor and dean of a law school, this is nothing but wilful blindness.
David Johnston has lost the trust of Parliament and Canadians. It is time to end the sham. When will the Prime Minister show Mr. Johnston the door and call for a public inquiry?
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