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Decentralized Democracy

House Hansard - 251

44th Parl. 1st Sess.
November 20, 2023 11:00AM
Context: House Hansard - 251 - Nov/20/23
Hon. Pierre Poilievre (Leader of the Opposition, CPC)
  • Nov/20/23 2:24:39 p.m.
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Mr. Speaker, the Prime Minister's plan is to increase mortgage payments by 150%, which he has already done. Now, Scotiabank says that government deficits have added two percentage points to interest rates. That works out to $700 a month, or $8,400 a year, in higher mortgage payments linked directly to deficits, including the massive deficits by the government. A year ago, the government promised a balanced budget. It broke the promise six months later. Will it come back tomorrow with a plan to balance the budget so we can bring down interest rates and inflation so Canadians can keep their homes?
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Context: House Hansard - 251 - Nov/20/23
Ms. Rachel Bendayan (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance, Lib.)
  • Nov/20/23 2:38:17 p.m.
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Mr. Speaker, let us speak about balance, because our government believes that we can balance compassion with fiscal responsibility, and that is what we have shown to date. Canada continues to have the lowest deficit among all G7 countries. Canada continues to have the lowest debt-to-GDP ratio among all G7 countries. The very report that the member is citing states that the major drivers of interest rate increases were COVID supports and provincial spending. It was not federal spending, but provincial spending. We will not apologize for having Canadians' backs while being responsible.
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