44th Parl. 1st Sess.
May 21, 2024 10:00AM
- May/21/24 2:27:56 p.m.
- Watch
Mr. Speaker, today we learned the terrible news that inflation is 35% above target. Again, after eight years, the Prime Minister is not worth the cost of debt interest.
They cannot do basic math over there. That 0.7% is actually a third higher than the 2% target. They are patting themselves on the back when they realize that Canadians cannot afford to eat, heat and house themselves.
Why do they not, instead of quadrupling the carbon tax on the backs of Canadians, follow our common-sense plan to suspend all gas and diesel tax until Labour Day?
98 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 2:29:16 p.m.
- Watch
Mr. Speaker, the minister does not even know that the target is 2%. Maybe that is one of the reasons she is missing the target; she does not know what it is.
The same goes for the interest rates we are paying on the national debt. The Prime Minister says that doubling the national debt is not a problem because the rates were very low. That is why I suggested locking in the rates with 10-year or 30-year bonds, when the rates were low, as it is done with mortgages.
That incompetent minister did not do that. Now we are going to pay more interest on the $400 billion that is going to be refinanced this year.
Why?
121 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 2:30:40 p.m.
- Watch
Mr. Speaker, not only does the incompetent finance minister not know the inflation target, she does not know that one locks in low rates when one has the chance.
Do members remember when the Prime Minister was saying to not worry, that we can double the national debt because, as he said, “Interest rates are at historic lows, Glen”?
The problem is that I told him at the time that they should lock in those rates for 10 years, or 30 years, with long-term bonds. It turns out that they did not do that, and now $400 billion of that debt will roll over into these higher rates, forcing Canadians to spend more on interest than on health care.
Why did he hire the worst mortgage broker in the world to be our finance minister?
138 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 5:08:33 p.m.
- Watch
Madam Speaker, I thank the member of South Shore—St. Margarets for his speech. He is eloquent as usual. I really appreciate my colleague. Among other things, I like his thoroughness.
I find the previous question on the long-term consequences of the budget interesting, particularly in terms of the debt and the deficit, especially as we will be dumping that on future generations.
Why can we not balance the budget? It is because the federal government wants to interfere in something that is not its responsibility or in its area of expertise, by investing in pharmacare, health insurance and dental insurance. These are all things that are not its responsibility.
Can we take this money, lower federal taxes and allow the provinces to invest more? If not, can we stop dumping this on future generations? Perhaps there are solutions to explore. I would like to know what my colleague thinks of that.
154 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 5:11:12 p.m.
- Watch
Madam Speaker, my colleague would know from living in B.C. that RBC has a report out now on the housing crisis in Vancouver, which says that it now takes 106% of people's gross income for them afford the average mortgage on a house in Vancouver. That is before paying taxes, buying food or doing anything else. People still do not have enough money. That is the only place in the world where that exists.
That is a homegrown issue caused by the government's insane spending, where it has added more debt to the—
97 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 8:29:12 p.m.
- Watch
Mr. Speaker, I appreciated the speech that was just given by my colleague, but something that she failed to articulate in her speech was the fact that the continual deficits, the massive increases in spending, are contributing to inflation. The government seems to be taking credit for inflation continuing to rise at 2.7%. That is not a decrease but simply a slowing of what has been an exceptional increase.
I would like her to comment on that, but also on the fact that the Deputy Prime Minister and Minister of Finance has announced that the government is increasing the debt ceiling for our country by $495 billion. I am wondering if the member would be able to shed some light onto why such an incredible increase in the national debt ceiling is required, in light of the circumstances that we find ourselves in, especially with the inflationary environment.
149 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 8:30:18 p.m.
- Watch
Mr. Speaker, maybe my colleague was not in the House of Commons today when the Deputy Prime Minister and Minister of Finance announced that inflation has been reduced to 2.7%, which is the lowest in three years.
There was also some good news last Thursday, that our AAA credit rating was again affirmed by Moody's, with a stable outlook, which keeps Canadians' debt payments low.
Maybe he can vote for Canadians by supporting the dental care plan, by supporting the child care benefit, and by supporting helping Canadians, helping seniors and making sure that Canadians are set up for a good future.
104 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 8:46:41 p.m.
- Watch
Mr. Speaker, that question was a little misleading. I know that Mr. Harper increased the GIS for seniors by 25% during his term in power.
I just want to say that the person who just spoke continues to support the coalition with the Liberal government that has caused all the inflationary spending in the first place. That leaves us, as I said, in one of the worst precarious financial positions the country has ever been in, which is not good for seniors.
I spoke to many seniors on the last break week that we had, back in my constituency. They are very concerned about the increased price of gas, home heating fuel, the carbon tax and inflationary issues as well. They are also concerned about the billions and billions of dollars that have caused us to have a $1.25-trillion debt now. They know that the amount that they're paying for food at the grocery stores is certainly inflationary.
161 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 9:17:17 p.m.
- Watch
Mr. Speaker, I could not agree more. That is why several jurisdictions already have laws on the books requiring a plan to return to a balanced budget, precisely to prevent situations where debt accumulates to the point of hurting the people who need it most. As my colleague rightly pointed out, a return to a balanced budget is essential. It is essential to guarantee a future for Quebeckers as long as we remain part of Canada.
76 words
- Hear!
- Rabble!
- add
- star_border
- share
- May/21/24 9:55:07 p.m.
- Watch
Madam Speaker, here we have the government that created this housing shortage by having an imbalance from taking in new Canadians without making sure the capacity to take care of them was there. It is now blowing billions of dollars when we are already $1.4 trillion in debt, adding another $60 billion, and there is no end in sight.
Instead of getting into the housing jurisdiction, which is not a federal jurisdiction, how is the government going to solve the problem? Will it be by concentrating on the imbalance and fixing the problem in the first place, which is that we have too many people and not enough housing?
110 words
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
