44th Parl. 1st Sess.
June 9, 2023 10:00AM
- Jun/9/23 11:20:33 a.m.
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Mr. Speaker, it is simple: Massive Liberal deficits cause inflation to rise, which forces interest rate hikes and mortgage defaults. The solution is clear: Stop the deficits, which slows inflation, prevents the interest rate hikes and saves people's homes. This week, the Bank of Canada increased interest rates to 19 times what they were last year.
Will the Prime Minister end his inflationary deficit spending and save Canadians' homes?
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- Jun/9/23 11:21:36 a.m.
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Mr. Speaker, that is cold comfort for Canadians who are skipping meals, for families who are cancelling their kids sports activities and for families who have no hope of having a summer holiday, even for a couple of days of camping. Young Canadians, an entire generation, have lost all hope of ever owning their own home. However, the Liberal solution is to spend more and drive up prices. Budget bill after budget bill, the Liberal Prime Minister and finance minister keep taking away more and more opportunities from hard-working Canadians.
Will the Liberals pull back on their budget bill and replace it with one that does not throw more fuel on the inflationary fire?
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- Jun/9/23 11:41:32 a.m.
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Mr. Speaker, earlier this week, the Bank of Canada hiked interest rates. This is a direct result of the government's inflation-inducing fiscal policy, which is driven by frivolous tax-and-spend policies that bankrupt Canadians. As a result, reams of struggling Canadians will default on their mortgages, putting the dreams of home ownership even further out of reach.
We do have a solution. We will stop the deficits, rein in inflation, stem interest rates and end the defaults. Are they willing to put partisanship aside, work with the opposition and end this inflationary deficit spending?
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- Jun/9/23 11:43:55 a.m.
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Mr. Speaker, the Liberal Prime Minister, along with the costly NDP coalition, have made the dream of home ownership and starting a family far out of reach for working young adults in my riding. They have done everything they were asked to do and left with only fear and tears.
Will the Prime Minister end his inflationary deficit spending and let young adults begin their lives and start a family?
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- Jun/9/23 11:49:52 a.m.
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Mr. Speaker, the government continues to add fuel to the inflationary fire, despite the finance minister's words that deficits must be reduced and this is a line that cannot be crossed.
What will happen? Inflation goes up and interest rates go up, so Canadians default on their mortgages and Canadians lose their homes. What is the solution? The solution is to stop the inflationary spending and stop the interest rate hikes, so Canadians can have lower inflation rates and lower interest rates.
Is the government ready to do that?
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- 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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- Jun/9/23 11:52:15 a.m.
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Mr. Speaker, the IMF warns that Canada is at the greatest risk of home mortgage defaults in the world. The Liberal government's out-of-control spending and massive deficits have caused inflation to skyrocket.
Canadians cannot absorb these higher rates, placing their dreams of home ownership at risk. Families are struggling, and they are struggling because of this Liberal government.
Will the Prime Minister end his inflationary deficit spending?
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- Jun/9/23 11:56:56 a.m.
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Mr. Speaker, not long ago the Liberal Minister of Finance said:
By exercising fiscal restraint, and by not pouring fuel on the fire of inflation today, we will ensure we can responsibly invest in Canadians and in a Canadian economy for years to come.
Yet, here we are, $60 billion in new spending and interest rates at their highest level in 22 years. The Liberals call that restraint? They are practising about the same amount of restraint as a kid in a candy store.
When will the Liberals stop gouging Canadians and end their inflationary spending?
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- Jun/9/23 11:58:24 a.m.
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Mr. Speaker, let us talk about the people hardest hit by the Liberals' inflationary spending, just for a minute.
The Liberals claim to be the champions of equality and they weave that word into every announcement they make. However, for them, it is nothing more than a buzzword.
In the words of one of the Prime Minister's own former advisers, government spending “will impact disproportionately lower income Canadians and young families, potentially creating divisions and threatening new sorts of inequality.”
When will the government drop the platitudes and stop gouging the Canadians struggling the most?
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- Jun/9/23 11:59:37 a.m.
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Mr. Speaker, for the past eight years, this Prime Minister and this government have been spending recklessly, and this is having a devastating effect on Canadian families. Accumulated deficits drive up inflation. Everyone knows that. Inflation has led to higher interest rates. The Bank of Canada had to raise its key interest rate. The result is ever-higher mortgage payments.
When will the Prime Minister finally understand that he needs to eliminate these inflationary deficits, which are putting people out on the streets?
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- Jun/9/23 12:03:42 p.m.
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Mr. Speaker, eight years of the Liberal government have given Canadians higher deficits, higher inflation and higher interest rates, which, of course, lead to higher mortgage payments. According to a recent study by the International Monetary Fund, Canadians are now the most at risk to default on their mortgages, and this problem will only get worse as more and more Canadians renew their mortgages at higher interest rates.
When will the Prime Minister end his inflationary deficit spending?
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