44th Parl. 1st Sess.
June 12, 2023 11:00AM
- Jun/12/23 2:10:18 p.m.
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Mr. Speaker, the consequences of eight years of a Liberal government are painfully evident. The costs of food, housing and fuel have hit historic highs. Canadians are visiting food banks at record levels. Household debt in Canada has reached an all-time high, and now, amongst advanced economies, Canadians are the most at risk of missing mortgage payments. Last week's Bank of Canada rate hike will only make it more difficult for homeowners.
Canadians simply cannot afford the Liberal-NDP government's inflationary deficits, yet these NDP-Liberals do not care. They have added 60 billion dollars' worth of fuel to the inflationary fire while turning a blind eye to the pain and anxiety they are causing Canadian families. It is time to end inflationary deficits to bring down inflation and interest rates. It is painfully clear that only Conservatives have a common-sense plan to end the cost of living crisis and make life affordable.
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- Jun/12/23 2:16:14 p.m.
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Mr. Speaker, the Liberals are out of touch and Canadians are out of money. These inflationary deficits are causing Canadians to miss meals and use food banks, and young people are abandoning the hope of owning a home.
In a couple more weeks, a second carbon tax will kick in, further driving up the price of gas to add 61¢ a litre, pouring more gas on the inflationary fire.
Mortgages and rents have doubled. The combined carbon taxes will cost families $4,000 extra per year. With all of the wildfires raging in Canada, there will be stiff penalties for the arsonists responsible, but what will the punishment be for the Prime Minister and the finance minister, who are deliberately setting the inflationary fire?
I reiterate my party's call for the Liberals to work throughout the summer to draft a budget that will combat inflation, reduce interest rates, axe the carbon tax and make it possible to build more homes.
For one's home, my home, our home, let us bring it home.
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- Jun/12/23 2:19:50 p.m.
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Mr. Speaker, ever since this Prime Minister came to power, rent has doubled. Mortgages have also doubled since this Prime Minister came to power.
He spent half a billion dollars, which drove up interest rates and inflation. He is also giving money to local governments that are preventing affordable housing from being built.
Will the Prime Minister finally reverse his inflationary policies, balance the budget and get rid of the red tape so that we can finally build affordable housing?
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- Jun/12/23 2:21:10 p.m.
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Mr. Speaker, doubling housing costs is not going to stop forest fires.
The Prime Minister has doubled housing costs with half a trillion dollars of inflationary deficits and by giving billions of dollars to local gatekeepers who block housing construction with the second-slowest housing permits of any country in the entire OECD. Now the deficits the Prime Minister is running risk increasing interest rates further and causing people to lose their homes to higher mortgage prices.
Will the government introduce a balanced budget to bring down inflation and interest rates so Canadians do not lose their homes?
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- Jun/12/23 2:22:32 p.m.
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Mr. Speaker, the question was about the doubling of housing costs. The Prime Minister has brought in half a trillion dollars of inflationary spending, which has doubled rent costs, mortgage payments and the down payment needed for the average house, and now the IMF says that Canada is the country most at risk of a massive mortgage default as our households have the most debt as a share of GDP of any country in the G7. That debt is about to collide with soaring interest rates, driven by the government's deficits.
Will they eliminate the deficits and balance the budgets to bring down inflation and interest rates before Canadians lose their homes?
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- Jun/12/23 2:23:54 p.m.
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Mr. Speaker, it is not just homeowners. Because the government has been giving billions to local gatekeepers who block affordable housing construction and because its inflationary policies have doubled rent, students are now living in squalor. One used to be able to get a full apartment for $840 before the Prime Minister. Now CBC is reporting that a student from Guelph has had to pay $840 just for a room in an apartment she shares with six other students that is mould- and insect-infested and does not even have running water.
Will the Liberals reverse their inflationary policies so Canadians do not—
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- Jun/12/23 2:44:47 p.m.
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Mr. Speaker, as everyone knows, the government's reckless spending is causing serious problems across the country.
A few days ago, the Bank of Canada had to react to this Prime Minister's inflationary spending by raising interest rates for the ninth time. Canadians are struggling to stay warm, to buy food and to pay their mortgages, which, I would remind members, have doubled. Some Canadians are even in default.
Will the Prime Minister immediately put a stop to his inflation-causing deficit spending and table a plan to balance the budget as soon as possible?
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- Jun/12/23 2:49:59 p.m.
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Mr. Speaker, the finance minister said that she would end her inflationary deficits and balance the budget by 2027. Just months after that, she admitted that she will run deficits forever and balance the budget in the year never.
Eight years of massive Liberal deficits have given Canadians the highest bank interest rate hikes seen in the last 20 years. Now, the International Monetary Fund is reporting that Canada is at the highest risk of a mortgage default crisis.
When will the finance minister end her inflationary spending and give us a date for when she will balance the budget so that Canadians will not lose their homes?
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- Jun/12/23 2:52:35 p.m.
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Mr. Speaker, the Liberal government has run massive deficits for eight long years, and, as predicted, inflation has soared, leading to unaffordable mortgage rates for households across this country.
Canadians have the highest household debt in the G7, and today, we now have the highest risk of mortgage default in the OECD nations. The solution is obvious: It is to end deficit spending, stop inflation and help Canadian families.
Will the Prime Minister and his government commit to ending his inflationary spending to prevent a fiscal crisis?
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- Jun/12/23 2:54:28 p.m.
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Mr. Speaker, that is absurd. During the pandemic, $200 billion was spent that had nothing to do with helping Canadians. The current government just added another $60 billion to its inflationary bonfire, and it now has deficits for as far as the eye can see.
Canadians are struggling to put food on their tables. They are cancelling their summer vacations because of the Liberal-caused inflation. On our side of the House, we are willing to work all summer to fix and pass a budget that will bring down inflation, bring down deficits, and make home ownership and hard work affordable again.
Will the Prime Minister cancel his summer vacation? Will he get to work, or are surfboard—
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- Jun/12/23 3:03:04 p.m.
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Mr. Speaker, this is a very serious problem. Massive Liberal deficits are fuelling inflation. Inflation causes interest rates to go up. Higher interest rates lead to higher mortgage payments and more mortgage defaults. To stop mortgage defaults, we need to balance the budget, end the big deficits and reduce interest rates.
Will the Prime Minister end his inflationary deficit spending so Canadians can afford to live?
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- Jun/12/23 3:04:16 p.m.
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Mr. Speaker, that is certainly not a very serious answer.
The bank governor is working to rein in inflation by increasing interest rates. At the same time, the Prime Minister's massive $60-billion spending spree is fuelling inflation and has caused yet another interest rate hike just last week. While the Liberals are making the Bank of Canada's job even harder, it is ordinary Canadians who will be dropping their keys off at their banks and saying goodbye to their homes.
Will the Prime Minister put an end to his inflationary deficit spending and let Canadians keep their homes?
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- Jun/12/23 3:05:31 p.m.
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Mr. Speaker, this Prime Minister is running deficits like there is no tomorrow and that has driven up inflation.
Inflation prompted the Bank of Canada to raise interest rates nine times over the past year. Homeowners who are making mortgage payments know all about it. The International Monetary Fund has warned Canada: The country is at risk of defaulting on its payments. That is where we are. It is very unfortunate, but that is how it is.
Will the Prime Minister stop with his inflationary deficits?
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