44th Parl. 1st Sess.
October 16, 2023 11:00AM
- Oct/16/23 2:27:11 p.m.
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Mr. Speaker, apparently former Liberal finance minister John Manley is just a partisan using talking points when he says that the government's inflationary deficits are like pressing on the inflationary gas pedal and forcing the Bank of Canada to press on the brakes with higher interest rates. Canadian families have the highest debt load of families from any country in the G7, and those debts are colliding with the rates the government is driving up.
Will the finance minister cancel the inflationary deficits and balance the budget to bring down interest rates and inflation, or will she admit that she is just not worth the cost?
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- Oct/16/23 2:28:42 p.m.
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Mr. Speaker, the independent, non-partisan voice that I am interested in is that of the shipyard worker in Vancouver, who told me that his mortgage payment has now risen to $7,500 a month. That is for a shipyard worker and a middle-class family. That proves that the Prime Minister, after eight years, is not worth the cost of mortgage payments. According to John Manley, former Liberal finance minister, the Liberals' deficits are driving up interest rates on the backs of mortgage holders.
Will the Deputy Prime Minister and Minister of Finance reverse these deficits so that we can bring down inflation and interest rates before this shipyard worker and millions of Canadians lose their homes?
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- Oct/16/23 2:37:05 p.m.
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Mr. Speaker, the finance minister is known for speeding up, just for the wrong reasons.
By adding more debt than every government before them combined, she put the pedal to the metal on her deficits and revved up inflation. Unlike on an Alberta highway, the consequence of her spending is not just a speeding ticket; it is a bigger deficit, as well as higher inflation. These things have led to higher interest rates, putting Canada most at risk in the G7 for a mortgage default crisis.
After eight years, the Liberals are definitely not worth the cost. Is the finance minister going to blow through her budget deficit projections, again, by more than $6 billion, yes or no?
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- Oct/16/23 2:38:32 p.m.
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Mr. Speaker, it is nice to welcome back the finance minister. I was beginning to think she had forgotten the address of this location.
After eight years, Canadians are realizing that the government is not worth the cost. Canadians are struggling and the government continues to increase its deficits and inflation. Everyone now agrees that deficits increase interest rates.
Will the finance minister finally confirm for Canadians that she will balance the budget so that interest rates can come down and Canadians can keep their homes?
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- Oct/16/23 2:51:13 p.m.
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Mr. Speaker, after eight years of this Liberal government, what has Canada witnessed? Chronic deficits and out-of-control inflationary spending. The result is a direct impact on inflation and interest rates, which are currently climbing.
According to the Institut national de la recherche scientifique, one in five Quebeckers are having a hard time repaying their debt and are at risk of losing their home.
After eight years of this Liberal government, will the government finally understand that reckless management is costly for all Quebeckers and Canadians?
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- Oct/16/23 2:59:58 p.m.
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Mr. Speaker, after eight years of the NDP-Liberal government, a half a billion dollars in inflationary deficits has fuelled 40-year inflation highs, causing the Bank of Canada to raise interest rates. In the midst of a housing crisis, mortgage defaults and forced home sales are on the rise. People are losing their homes.
This Prime Minister is just not worth the cost. Will the Prime Minister finally put an end to his inflationary spending so that Canadians can keep a roof over their heads?
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- Oct/16/23 3:01:28 p.m.
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Mr. Speaker, this government's policies have forced the Bank of Canada to increase the interest rate 10 times, with devastating effects. Here is the latest example. Approximately 20% of mortgages at the country's big banks are in negative amortization. What does that mean? It means that people's monthly payments are not enough to cover the interest. The unpaid interest is growing and being added to the balance. These loans will never be paid off.
When will the Liberals put an end to their inflationary deficits so that interest rates will drop and Canadians are able to stay in their homes?
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- Oct/16/23 3:09:32 p.m.
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Mr. Speaker, they must have a very different definition of hard work than Conservatives, because after eight years of the Liberal government, we know that food prices are out of control. I went to the grocery store in Orangeville this past weekend for Thanksgiving. A loaf of Wonder bread was $4.40. That is the definition of Liberal hard work. How did we get there? It was with massive inflationary deficits and a carbon tax that is driving up the cost of everything.
The fake photo ops of the Prime Minister are not going to fix anything. Will they cut the carbon tax and balance the budget so that Canadians can pay for food?
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