44th Parl. 1st Sess.
June 13, 2023 10:00AM
- Jun/13/23 10:02:36 a.m.
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Mr. Speaker, I rise to table the supplementary opinion of the Conservative Party of Canada for the Standing Committee on Agriculture and Agri-Food's report on food price inflation.
While we appreciate the work done by the committee and the study for this report, we believe more information must be made available to Canadians in terms of the Liberal government's policies and its contribution to food inflation in Canada. It was made abundantly clear throughout that the Liberal members of the committee purposely avoided discussion or inclusion of politically inconvenient facts and recommendations related to the carbon tax, out-of-control spending and inflationary deficits, which drive up the cost of goods we buy, including essentials like food and fuel.
We understand that food loss and waste come at an enormous economic cost to businesses, society and the environment. The Conservatives recommend that the Government of Canada remove the carbon tax; complete a comprehensive study on the economic impact of the carbon tax and clean fuel regulations; study how increases affect the cost of food production, the price of food and the entire food supply chain; and immediately reverse its policy on front-of-package labelling.
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- Jun/13/23 11:01:29 a.m.
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Mr. Speaker, the member finished by saying that the Liberals were doing all they could to get this under control. It seems to me that they are missing an essential element, and that is keeping the debt under control. This has led to a ballooning of the inflationary fire.
The Bank of Canada has been forced to raise interest rates, which is having a tremendous impact on homeowners who are renting to other people. They are forced to raise how much rent they charge or else sell their properties.
Does the member not recognize the impact of their policies on housing stocks?
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- Jun/13/23 2:13:18 p.m.
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Mr. Speaker, inflationary spending is driving up the cost of living. Food, housing and fuel are all hitting record highs. Canadians are stretched thin. According to the International Monetary Fund, Canada has the highest risk of mortgage defaults because of the high levels of household debt compared to similar economies.
This government said that interest rates would be low for a long time and debt had no consequences. Now, in a span of a year, interest rates have gone up by 4.5%. Canadians who believed this government and took on a large mortgage to afford the inflated price of homes now do not know how they are going to pay the bills.
Canadians are already experiencing $600 increases in mortgage payments. According to the Bank of Canada, over the next three years, a large share of Canadian households will see their payments go up by 40%.
It is time to restore stability, restore hope and bring the back common sense of the common people.
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- Jun/13/23 2:14:19 p.m.
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Mr. Speaker, it has been 40 years since the Trudeau government caused such pain for Canadians with inflationary spending and skyrocketing interest rates. I remember when that Trudeau came through my hometown while on vacation and gave his famous Salmon Arm salute from his private rail car to a group of protesters calling for restraint on government spending. Interest rates would reach record levels and people could not afford to keep up with the soaring cost of living.
Now, 40 years later, it is the same out-of-control spending. Sixty billion dollars' worth of fuel poured on the inflationary fire is causing the interest rates to rise 19-fold higher than they were a year ago, and the Prime Minister wants to go on another vacation. While the PM goes on vacation, Conservative members will work through the summer to make things right so that Canadians can afford groceries, the cost of living and homes. For their home, my home, our home, let us bring it home.
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- Jun/13/23 2:24:44 p.m.
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Mr. Speaker, all the experts now agree that deficits are causing inflation. These include Liberal experts.
The former Liberal premier of Nova Scotia, Stephen McNeil, says that deficits are causing inflation. The former Liberal finance minister and deputy prime minister, John Manley, says that the Prime Minister's deficits are like putting his foot on the inflationary gas pedal. Even the present Deputy Prime Minister has said that inflation is caused by deficits.
Will the Prime Minister finally table a plan to balance the budget, so we can bring down inflation and interest rates?
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- Jun/13/23 2:26:06 p.m.
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Mr. Speaker, if he does not trust Liberals on the economy, why should anybody else?
It was, in fact, his own finance minister who, just weeks before she introduced her budget, said that deficits were like pouring gas on the inflationary fire. Then weeks later she introduced $60 billion, or $4,200 per family, of brand-new gas on that fire.
Our children are screaming because of the debt they are going to inherit from the government. Will the Prime Minister act responsibly and introduce a plan to balance the budget to bring down inflation and interest rates?
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- Jun/13/23 2:27:28 p.m.
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Mr. Speaker, the Prime Minister's inflationary spending binge caused the price of everything to go up. All that spending and all that money he flooded into the financial system bid up housing prices, which doubled, leading to the most expensive housing prices in the G7. It now takes 25 years for the average family in Toronto to save for a down payment. They used to be able to pay off an entire mortgage in that time period. It takes roughly 90% of a Vancouver family's monthly income to pay the average monthly mortgage.
Will the Prime Minister balance the budget to bring down inflation and interest rates so that Canadians do not lose their homes?
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- Jun/13/23 2:28:46 p.m.
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Mr. Speaker, the Prime Minister has had eight years to deliver on those promises. The only thing he has done is double the average rent, double the average mortgage payment and double the down payment on the average house. He has made Vancouver and Toronto two of the 10 most expensive cities in the world. It now takes 25 years to save enough money for a down payment.
Will the Prime Minister finally put an end to his inflationary deficits so as to reduce interest rates and enable Canadians to keep their homes?
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- Jun/13/23 2:47:57 p.m.
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Mr. Speaker, this Prime Minister's inflationary policies are causing terrible harm and immense sadness. For instance, the exponential rise in the cost of rent, which has doubled in recent years, is forcing people onto the streets or into debt. A woman with a disability in the Montreal area has no choice but to live in a motel and put the cost on her credit card because she cannot find suitable housing at a reasonable price.
What does the Prime Minister have to say to this woman who is suffering?
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- Jun/13/23 2:57:25 p.m.
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Mr. Speaker, it was a little puzzling last week that, on the same day the Bank of Canada raised interest rates, the finance minister said, “We are very close to the end of this difficult time, and to a return to low, stable inflation and strong, steady growth.” Now, experts are saying the risk is that inflation will not come down, which means interest rates and mortgage rates will be higher.
Is it not time the government cut inflationary deficits, or inflationary taxes like the carbon tax, so interest rates and mortgage rates can come down for Canadians?
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- Jun/13/23 2:57:59 p.m.
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Mr. Speaker, I respect the hon. colleague a great deal. He knows, like we do, that the inflationary cycle taking place in Canada is not a Canada-only phenomenon. Inflation is taking place across the world.
Let us listen to the Governor of the Bank of Canada, Tiff Macklem, who said that government spending patterns are not standing in the way of inflation getting back to target. In our projections, which incorporate those measures, we have inflation coming back to target.
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- Jun/13/23 3:05:23 p.m.
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Mr. Speaker, after eight years, this Prime Minister is out of touch and Canadians are out of money. The Liberals' out-of-control spending has caused inflation to reach record levels.
That is not all that is reaching record levels: More Canadians are using food banks than ever before. In fact, just last month, the food bank in Saskatoon held a food drive, as food bank usage has reached a new record of 24,000 people monthly.
Will the Prime Minister reverse his inflationary policies so that Canadians can afford to put food on the table?
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