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Decentralized Democracy

House Hansard - 317

44th Parl. 1st Sess.
May 24, 2024 10:00AM
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 11:33:38 a.m.
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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—
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Context: House Hansard - 317 - May/24/24
Hon. Steven MacKinnon (Leader of the Government in the House of Commons, Lib.)
  • May/24/24 11:34:58 a.m.
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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.
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Context: House Hansard - 317 - May/24/24
Hon. Steven MacKinnon (Leader of the Government in the House of Commons, Lib.)
  • May/24/24 11:36:12 a.m.
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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.
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