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House Hansard - 313

44th Parl. 1st Sess.
May 10, 2024 10:00AM
Context: House Hansard - 313 - May/10/24
Mr. Chandra Arya
  • May/10/24 12:25:24 p.m.
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Mr. Speaker, the legislative agenda sometimes moves at its own pace, but the key thing is that the measures we have taken since the last fall economic statement and the budget that we announced have already started yielding results. Today, Statistics Canada came out with a report that shows a gain of 60,000 jobs against an expected gain of just 20,000 jobs. The unemployment rate has actually remained steady at 6.1%. As I have been saying for the last 11 to 12 months, the interest rate will start getting reversed about the middle of this year. The Bank of Canada has already indicated that inflation is coming down. I think it is around 2.9%. It is within the Bank of Canada's range. With the economy showing progress, we have achieved a soft landing, which many predicted would not happen. Rather, many had predicted that we would go into a recession, which has not happened. It does not matter when it is getting implemented. The effects of our measures have already started yielding results.
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