SoVote

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

May/24/24 10:24:16 a.m.
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Mr. Speaker, as a continuation of my speech and in the spirit in which the question was posed, I am going to keep positive, because if we look at Canada's interest rate or its inflation rate, we would find, in comparison to virtually any other country in the world, in particular, let us say, the G7 or G20 countries, Canada is doing exceptionally well. In fact, our inflation rate has dropped to 2.7% and we have been on target for the last four months. Hopefully we will see a decrease in the interest rate. It is important that in the House of Commons, not only the government should be focused on trying to improve economic conditions. Even though we are doing much better than most of our peers, it is still important that we focus our attention on that rather than on a lot of the other, more negative, aspects of politics that we often witness on the floor of the House of Commons. By doing that, we are helping Canadians. Hopefully, over the next number of months we can collectively come to an agreement, the inflation rate will remain in the direction it is going and we will see more relief with respect to interest rates, but we have to respect the independence of the Bank of Canada.

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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 11:18:54 a.m.
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Mr. Speaker, it is certainly well known that grocery price inflation is a problem that all countries are facing around the world. As for grocery price inflation in Canada, there is some good news that just came in with a report that shows that food price inflation is in fact coming down in Canada. It is at 1.4% in April, down from 1.9% the month before. That is certainly encouraging news for Canadians, but it is cold comfort, for sure. We are addressing the root causes of the issue by increasing competition in the marketplace and by investing in a national school food program.

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

Hon. Marie-Claude Bibeau (Minister of National Revenue, Lib.)

May/24/24 11:23:56 a.m.
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Mr. Speaker, it is true that people are struggling. I have visited people in my riding, too. Across the province and all across Canada, we are meeting with people at food banks and with our partners. We just went through a pandemic, which led to abnormally high inflation. It is coming down precisely because we are making the right decisions and focusing our investments and assistance on the people who need it most.

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

Mr. Greg McLean (Calgary Centre, CPC)

May/24/24 11:30:22 a.m.
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Mr. Speaker, the superintendent of financial institutions released his annual risk outlook yesterday. It is now a warning from its own regulator for the Liberal-NDP government to heed. Canadian homeowners who renew their mortgages over the next two years could face a payment shock. The root cause of this spike in payments is the government's loose spending policies. Large deficits have driven inflation, which have increased mortgage costs. With all these warnings, will the Minister of Finance take a lesson and reverse her inflationary spending policies?

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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.
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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?

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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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