SoVote

Context: House Hansard - 317 - May/24/24

Mr. Ryan Turnbull (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation, Science and Industry, Lib.)

May/24/24 11:30:59 a.m.
Watch

Mr. Speaker, let us take note that the Parliamentary Budget Officer, just this week, described Canada's fiscal position as top of class, and so did the International Monetary Fund when describing Canada's growth in 2025. We are also, I remind the Conservatives, rated number one in the world with a AAA credit rating, which has been reaffirmed by independent credit agencies. When it comes to combatting inflation, the Governor of the Bank of Canada says we are on the right track. Let me ask the Conservatives this. Does the Conservative leader intend to fire all the independent experts in the world who disagree with his doomsday narrative?

109 words

Mr. Greg McLean (Calgary Centre, CPC)

May/24/24 11:31:42 a.m.
Watch

Mr. Speaker, that is avoiding every touchpoint the member does not want to pay attention to, including from his own regulator. Let us look at the follow-on risks that OSFI identified: stress in the mortgage insurance industry, investment portfolio risk, asset management risk and insurance risk. All are rising. This house of cards does not end well. It is obvious to the regulator, and to all Canadians, that after nine years of failed economic policies, the government is just not worth the cost. Can we see a redo on last month's disastrous budget that will bring back the fiscal balance Canadians desperately need?

105 words

Mr. Peter Fragiskatos (Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities, Lib.)

May/24/24 11:32:20 a.m.
Watch

Mr. Speaker, at any point in time, a democracy is bound to face risk, particularly in the difficult economic environment that we face domestically and internationally. To echo my colleague who just spoke on this side, a AAA credit rating was affirmed recently by Moody's, which said we have the best fiscal record in the G7 and the lowest debt and deficit in the G7. Those are foundation points that will carry us through difficult times. It is a hard time for Canadians. The member talks about the Canadians who want to renew their mortgages. Where were the Conservatives over the years? We wanted to support Canadians. They were never there.

112 words

Mr. Marty Morantz (Charleswood—St. James—Assiniboia—Headingley, CPC)

May/24/24 11:33:01 a.m.
Watch

Mr. Speaker, in 2020, the Prime Minister's own bank governor said interest rates are very low and they are going to be low for a long time. This week, OSFI reported that mortgage holders will face a payment shock because of high interest rates. They said the shock will be the worst for those who took low mortgage rates in 2020. Words matter. After nine years of the NDP-Liberal Prime Minister misleading Canadians, will he finally admit he is not worth the cost to homeowners?

87 words

Mr. Ryan Turnbull (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation, Science and Industry, Lib.)

May/24/24 11:33:38 a.m.
Watch

Mr. Speaker, it was great to have the independent Governor of the Bank of Canada attend the finance committee recently. When he was at committee, he said, “The budget does respect the fiscal guardrails that the government put in place,” and that “Keeping the debt-to-GDP ratio on a declining track and importantly keeping deficits below one per cent of GDP in future years, the budget also commits to those guardrails going forward and that is helpful.” Those are the exact words of the independent Bank of Canada governor. I wonder if this is why the Conservative leader wants to fire the independent—

109 words

The Deputy Speaker

May/24/24 11:34:18 a.m.
Watch

The hon. member for Charleswood—St. James—Assiniboia—Headingley.

12 words

Mr. Marty Morantz (Charleswood—St. James—Assiniboia—Headingley, CPC)

May/24/24 11:34:21 a.m.
Watch

Mr. Speaker, also in 2020, the Prime Minister said, “Interest rates are at historic lows Glen.” Millions of people took out low-interest mortgages. Tuesday, his own bank regulators reported that homeowners renewing mortgages will now face a payment shock because of the high mortgage rates they got in 2020, increasing the risk of default. After nine years of the NDP-Liberal Prime Minister misleading Canadians, will he finally admit he is not worth the cost to people who are losing their homes?

85 words

Hon. Steven MacKinnon (Leader of the Government in the House of Commons, Lib.)

May/24/24 11:34:58 a.m.
Watch

Mr. Speaker, Canada is proud of having one of the most stable and flexible financial institutions and financial markets in the world. It is also true that Canada's fiscal position is a particularly strong one. What would put that all at risk? The banana republic promise of the Leader of the Opposition to fire the Governor of the Bank of Canada, sending shockwaves to global markets and exposing homeowners, mortgage holders, to intense interest rate risk.

77 words

Mr. Tom Kmiec (Calgary Shepard, CPC)

May/24/24 11:35:39 a.m.
Watch

Mr. Speaker, after nine years of the NDP-Liberal Prime Minister, more Canadians are now going hungry and homeless. The latest annual risk outlook from OSFI highlights that 76% of mortgages will come up for renewal by the end of 2026. Now, the Prime Minister's high mortgage rates are creating misery for Canadian homeowners. Again, the Liberal government's own bank regulators are flashing red stop signs. The Bank of Canada governor has said that out-of-control federal spending is not helpful. How much more mortgage payment pain will Canadian families have to face and endure to satisfy the NDP-Liberal government's big government spending?

108 words

Hon. Steven MacKinnon (Leader of the Government in the House of Commons, Lib.)

May/24/24 11:36:12 a.m.
Watch

Mr. Speaker, that member should know better than to stand up and talk about financial markets, when his own leader is the person that has promised to send tremors into the international financial system by taking over, like some dictator, the operations of the Bank of Canada and arbitrarily firing the governor, who is, of course, watching inflation very carefully. I know the member will have noticed that inflation, for the fourth straight month, is down to the Bank of Canada's target range. We want to continue getting that inflation number down.

93 words

Mr. Tom Kmiec (Calgary Shepard, CPC)

May/24/24 11:36:53 a.m.
Watch

Mr. Speaker, that overheated and over-the-top rhetoric is cold comfort to homeowners who are facing hundreds of dollars per month of increased mortgage costs because of the Liberal government's decisions during the pandemic. The Liberals doubled the national debt and increased spending by $600 billion over that time period, which led to higher mortgage interest costs at the same time that the Prime Minister was saying that interest rates would never go up, that they were so low and they would continue. Mortgage holders listened to the Prime Minister. They took out more mortgages and now they are facing higher mortgage rates, rates so punishing they will have a hard time paying. When is the NDP-Liberal Prime Minister going to learn his lesson? Is he going to give homeowners a break on these mortgage rates?

139 words

Mr. Peter Fragiskatos (Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities, Lib.)

May/24/24 11:37:37 a.m.
Watch

Mr. Speaker, I would take the member seriously, were it not for the Conservative record. Those same mortgage holders, in years past, benefited from a tax cut to the middle class that the Liberal government introduced. They benefited from the Canada child benefit. They are benefiting now from the child care program the government has introduced; dental care, where they are eligible; and pharmacare. All those measures that benefit middle-income Canadians and lower-income Canadians working hard to join the middle class are measures that the Conservatives did not support at all, and they want to fire the Governor of the Bank of Canada. That is irresponsible. They never answered the question on that.

115 words

Ms. Monique Pauzé (Repentigny, BQ)

May/24/24 11:38:18 a.m.
Watch

Mr. Speaker, climate change is threatening the St. Lawrence River. That is what federal government scientists disclosed on Wednesday. Water temperatures are reaching record levels, as much as five degrees above average. Oxygen levels are decreasing. As a result, species such as shrimp are in serious decline. The economy and biodiversity of our regions are at risk. Meanwhile, as scientists sound the alarm, the federal government is opening a new pipeline in western Canada to encourage dependence on dirty oil. All of this while we are in the midst of a climate crisis. When will the Liberals starting listening to science?

101 words

Mr. Adam van Koeverden (Parliamentary Secretary to the Minister of Environment and Climate Change and to the Minister of Sport and Physical Activity, Lib.)

May/24/24 11:38:58 a.m.
Watch

Mr. Speaker, when we formed government in 2015, Canada was not even protecting 1% of its territorial waters and coastlines. We are now at 15% and on our way to at least 30% by 2030, which is the goal that all countries agreed to at COP15 in Montreal. We are investing record amounts, particularly in partnership with indigenous people across the country, to protect more and more of our territory.

70 words

Ms. Monique Pauzé (Repentigny, BQ)

May/24/24 11:39:37 a.m.
Watch

Mr. Speaker, the St. Lawrence River is the lifeblood of Quebec. It is the cradle of the Quebec nation, which has grown and developed along its shores over four centuries. We now see that climate change is damaging those shores, threatening biodiversity and jeopardizing the survival of species that have been fished for generations. In the meantime, the federal government is investing $34 billion in a dirty oil pipeline. Dirty oil is the primary cause of global warming. Ottawa is literally making Quebeckers pay to harm our own ecosystems. How much longer will we agree to entrust our money to this irresponsible country?

103 words

Hon. Steven MacKinnon (Leader of the Government in the House of Commons, Lib.)

May/24/24 11:40:16 a.m.
Watch

Mr. Speaker, the Bloc Québécois cannot be serious. Members have before them the first government with credible targets and a plan to achieve net zero in 2050. We have a government that is looking out for our oceans by fighting against plastic and ready to implement a whole host of measures that will enable Canada to meet its Paris targets and will fight the effects of climate change, including in our St. Lawrence River.

78 words

Mrs. Kelly Block (Carlton Trail—Eagle Creek, CPC)

May/24/24 11:40:49 a.m.
Watch

Mr. Speaker, after nine years of the NDP-Liberal Prime Minister, more Canadians are hungry and homeless. The number of tent cities is growing across the country, and the number of people lining up at food banks has grown to over two million and continues to climb. The Salvation Army reports that 26% of Canadians are skipping or reducing meals. The Prime Minister is not worth the cost. When will he finally stop his inflationary spending, which is forcing Canadians to go hungry?

83 words

Mr. Peter Fragiskatos (Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities, Lib.)

May/24/24 11:41:24 a.m.
Watch

Mr. Speaker, in the member's constituency, where individuals might find themselves homeless, she can go back and show them the Leader of the Opposition's housing plan, which unfortunately says nothing about homelessness, zero. The Leader of the Opposition purports to present a vision for this country, but it is hollow. There is nothing there on so many issues, but specifically on homelessness. He has never cared about these issues. When it comes to supporting Canadians on a range of matters from homelessness to child care, pharmacare and dental care, Conservatives have been silent. They do not care.

99 words

Mrs. Kelly Block (Carlton Trail—Eagle Creek, CPC)

May/24/24 11:42:04 a.m.
Watch

Mr. Speaker, here are the facts. After nine years of the NDP-Liberal Prime Minister, more Canadians are losing their home and going hungry. The number of Canadians who have reported food security challenges has increased, and 26% are skipping meals. Costs continue to rise and the government's plan to raise taxes will only make it worse. Canadians are losing hope. The Prime Minister is not worth the cost. When will he finally admit his inflationary policies are hurting Canadians?

81 words

Mr. Ryan Turnbull (Parliamentary Secretary to the Deputy Prime Minister and Minister of Finance and to the Minister of Innovation, Science and Industry, Lib.)

May/24/24 11:42:42 a.m.
Watch

Mr. Speaker, our government has a track record of leading with compassion and initiating programs that address the needs of the most vulnerable. Emergency food programs are certainly part of the support system for people who have immediate needs and are struggling to put food on the table. Let us review this. Food Banks Canada said that the national school food program was a vital initiative. If the Conservatives are aligning themselves with Food Banks Canada, then why would they oppose a vital initiative, the national school food program, that is going to feed over 400,000 children?

98 words