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Decentralized Democracy

House Hansard - 216

44th Parl. 1st Sess.
June 19, 2023 11:00AM
Context: House Hansard - 216 - Jun/19/23
Mr. Doug Shipley (Barrie—Springwater—Oro-Medonte, CPC)
  • Jun/19/23 2:18:36 p.m.
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Mr. Speaker, at a time when Canadians are struggling, the Liberal government continues to pour fuel on the inflationary fire by recklessly adding $4,200 in new spending and debt for every household in Canada. To make matters worse, the Bank of Canada’s most recent interest rate hike will be a disaster for families with variable rate mortgages and with mortgages that are up for renewal. Families who bought a home five years ago, with a typical mortgage that is up for renewal, will now, on average, pay $7,000 more a year in interest alone. In Barrie, this situation has become critical. I recently spoke to a local bank manager, and he indicated that their branch is currently working with 40 struggling families trying to keep their homes. Considering that there are over 35 financial institutions in Barrie, this could mean that approximately 1,500 families in my riding are in a similarly dire predicament. Canadians deserve better. They deserve a government that can bring home powerful paycheques, lower their taxes and build more homes. Only a Conservative government can provide the relief that Canadians so desperately need.
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Context: House Hansard - 216 - Jun/19/23
Mr. Pat Kelly (Calgary Rocky Ridge, CPC)
  • Jun/19/23 2:51:11 p.m.
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Mr. Speaker, massive Liberal deficits cause inflation, which cause interest rate hikes, which lead to mortgage defaults. The IMF warns that Canada is at the greatest risk for mortgage defaults of any country that it tracks. The solution is to stop the deficits, which stops inflation, which stops interest rate hikes, which will stop defaults. The finance minister knows this, and she said as much last fall, so when will she table her plan to rein in her deficits?
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Context: House Hansard - 216 - Jun/19/23
Mr. Terry Dowdall (Simcoe—Grey, CPC)
  • Jun/19/23 2:53:26 p.m.
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Mr. Speaker, rate hikes are on the rise again. The Liberals' record debt level has led to 40-year-high inflation and the highest interest rate in 22 years. Higher Liberal taxes were already making Canadians poor. Interest rates will now make owning and renting more expensive. Conservatives have been asking for a plan to balance the budget, but the NDP-Liberal coalition just laughs and spends more. The IMF now warns that Canada is at the highest risk of mortgage defaults among advanced economies. How many Canadians need to lose their homes before the government presents a plan to balance the budget?
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Context: House Hansard - 216 - Jun/19/23
Mrs. Shelby Kramp-Neuman (Hastings—Lennox and Addington, CPC)
  • Jun/19/23 2:58:09 p.m.
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Mr. Speaker, experts across Canada and the world are sounding the alarm bells. The Liberal government deficits are causing mortgage defaults because of inflation driving interest rate hikes. One mortgage broker in Ontario said that it may be the last straw. Washington and Paris are taking note as well. The IMF and the OECD have singled out Canada as the nation with the highest risk of mortgage defaults. Will the Prime Minister listen to domestic and international experts and end his inflationary deficit spending?
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