SoVote

Decentralized Democracy

House Hansard - 210

44th Parl. 1st Sess.
June 9, 2023 10:00AM
Context: House Hansard - 210 - Jun/9/23
Mr. Pat Kelly (Calgary Rocky Ridge, CPC)
  • Jun/9/23 11:10:52 a.m.
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Mr. Speaker, the government has been running massive deficits ever since it took office. All this debt has predictably triggered an inflation crisis, which has led to massive mortgage rate hikes. Half of all homeowners say their mortgage was already barely affordable, and now they are one renewal away from a shocking new payment that will add $1,400 a month to a typical family with a mortgage. Rate hikes are also crushing the dreams of new buyers and threatening to collapse transactions that are currently in progress. Young Canadians face housing prices and rents that have doubled, and now the highest interest rates in 25 years. I beg the government to stop making things worse. It must stop the massive deficits that cause inflation and that are driving up mortgage rates to the point that homeowners cannot pay for the homes they own and young people have given up hope of ever owning one.
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Context: House Hansard - 210 - Jun/9/23
Mr. Dane Lloyd (Sturgeon River—Parkland, CPC)
  • Jun/9/23 11:13:51 a.m.
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Mr. Speaker, the Liberal government has added more to our national debt than all previous governments combined. The only thing worse than a tax-and-spend Liberal is a borrow-and-spend Liberal. Liberal deficit borrowing is driving up interest rates, making Canadians' loans and mortgages more expensive. Liberal overspending is driving up the cost of goods and services, making everything, including our homes and our food, more expensive. Albert Einstein once said that compound interest is the eighth wonder of the world, and that those who do not understand it will face the consequences. As interest rates rise, Canadian homeowners are facing the consequences, and Canadian taxpayers are facing the consequences of an exponential increase in government interest debt. Eventually this debt needs to be repaid. We cannot burden future generations with this overwhelming responsibility. It is time to save Canadians' finances by ending the Liberal deficits and balancing the budget.
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Context: House Hansard - 210 - Jun/9/23
Mrs. Stephanie Kusie (Calgary Midnapore, CPC)
  • Jun/9/23 11:51:04 a.m.
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Mr. Speaker, then why do we have the greatest level of household debt in Canada that we have ever had? The IMF states that out of the G7, Canadians are most likely to default on their mortgages. Even the finance minister recognizes that Canadians are struggling. She said that Canadians are facing hardships as a result of high interest rates. Why does the government not commit to eliminating inflationary deficits and eliminating inflationary spending, so that Canadians can have lower inflation and lower interest rates?
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Context: House Hansard - 210 - Jun/9/23
Hon. Greg Fergus (Parliamentary Secretary to the Prime Minister and to the President of the Treasury Board, Lib.)
  • Jun/9/23 12:00:12 p.m.
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Mr. Speaker, I invite my hon. colleague to have a look at the budget. He can look directly at the budget to see very clearly that the deficit will continue to decline every year for the next five years, despite the headwinds we face. The Conservative Party's reckless austerity measures would be very problematic. Our government has the lowest deficit in the G7. We have the lowest debt and the lowest debt-to-GDP ratio. It is thanks to our leadership that we have been able to achieve these important goals.
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