SoVote

Hon. Pierre Poilievre (Leader of the Opposition, CPC)

Jun/5/24 2:31:28 p.m.
Watch

Mr. Speaker, interest rates remain 20 times higher than they were when the member promised they would go down. Remember when she said that the big risk was deflation and low rates? She was exactly wrong then, and she is even more wrong now. Six years ago, I said there was a carbon tax cover-up. The government would not reveal the true cost of its carbon tax. Then the government published information claiming everyone was better off. Now we find out that there is a secret report showing that, with the economic costs considered, the vast majority of Canadians are paying more. Will the government end the gag order, stop the carbon tax cover-up and release the report?

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Context: House Hansard - 325 - Jun/5/24

Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)

Jun/5/24 2:38:56 p.m.
Watch

Mr. Speaker, I thought that the NDP shared our concerns about the cost of living. That is why I find it surprising that the NDP does not want to discuss the Canadian economy. The reality is that today we have good news. The Bank of Canada has decided to lower the key interest rate. It is our responsible economic plan that created the conditions to make this happen.

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Context: House Hansard - 325 - Jun/5/24

Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)

Jun/5/24 2:47:16 p.m.
Watch

Mr. Speaker, I am glad that the Conservatives are finally asking a couple of questions that are at least in the neighbourhood of the economy. The next step for them is to recognize how significant today is. Today is the day that Canada, first among the G7, lowered interest rates. It is the first time rates have gone down since COVID. This is a tremendously important day for Canada, and it is our responsible economic plan that has made it possible.

81 words

Context: House Hansard - 325 - Jun/5/24

Hon. Jean-Yves Duclos (Minister of Public Services and Procurement, Lib.)

Jun/5/24 3:11:10 p.m.
Watch

Mr. Speaker, I have already answered that question several times. A question that has not been answered, however, is why are the Conservatives not sharing today's good news about the interest rate being lowered for the first time in four years, a first among G7 countries? That was possible not only because we have responsible management from a fiscal, economic and social standpoint, but also because Canada, in 2025, is going to have the strongest economic growth of all the G7 countries. We have made investments in dental care, in health care, in child care across Canada, and in particular in Quebec, as well as in housing, including in my own riding, Québec.

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Context: House Hansard - 325 - Jun/5/24

Hon. Jean-Yves Duclos (Minister of Public Services and Procurement, Lib.)

Jun/5/24 3:12:34 p.m.
Watch

Mr. Speaker, it may indeed be that our colleague was distracted when I spoke about the matter many times during question period. I am happy to repeat the same answer to the same question, which is that we thank the Auditor General for her report. It contains recommendations and views that have been understood and heard in many other reports in previous months. We have been acting on those recommendations for more than a year now. There is nothing more to add, except that today is an important day for Canadians and their economy. For the first time in four years, there has been a fall in the interest rate, the first decrease across all the G7 countries.

118 words

Context: House Hansard - 325 - Jun/5/24

Mr. Yasir Naqvi (Parliamentary Secretary to the Minister of Health, Lib.)

Jun/5/24 8:21:15 p.m.
Watch

Madam Speaker, I thank the member opposite for the question she has posed. I appreciate the opportunity to highlight the work that our government is doing to tackle affordability in Canada. I would like to start by welcoming the Bank of Canada's decision to lower the interest rate. It was a very significant moment today. It is truly great news for Canada and for Canadians. In fact, Canada is the first country in the G7 to have an interest rate cut take place. It is the result of the federal government's economically responsible plan. It is a plan that the government has been working really hard on to create the economic conditions that would make it possible for the Bank of Canada to lower the interest rate. It does not happen in a vacuum. It is as a result of the economic plan and the agenda the government has been working on. We are seeing the fruit of that hard work now. On the matter of housing and building more homes faster, the Liberals are absolutely committed to tackling housing affordability by building more homes. The best way to bring down home prices is to increase supply and increase it quickly. The $4-billion housing accelerator fund is already cutting red tape across the country, with 179 agreements with municipalities, provinces and territories, which will enable the construction of over 750,000 new homes over the next 10 years. In fact, in budget 2024, that work is built on by proposing to top the fund up with $400 million to build more homes faster in more communities. Budget 2024 also proposes an additional $15 billion in new loan funding for the apartment construction loan program, bringing the program's total to over $55 billion. This investment will help build more than 30,000 additional new homes across Canada, bringing the program's total contribution to over 131,000 new homes by 2032. To support this new housing, we are investing in the infrastructure community's need to grow, which is why budget 2024 proposes to provide $6 billion to launch a new Canada housing infrastructure fund that would allow our communities and municipalities to build infrastructure, like sewer systems, and access to electricity and natural gas, in order for people to enjoy their homes. Furthermore, budget 2024 takes action to unlock new pathways for young renters to become homeowners, and to protect middle-class homeowners from rising mortgage payments. For example, budget 2024 announced the government's intention to strengthen the Canadian mortgage charter to allow 30-year mortgage amortization for first-time homebuyers purchasing newly constructed homes. To help our younger generation purchase their first home faster, we are proposing to increase the homebuyers' plan withdrawal limit from $35,000 to $60,000. Yes, there are a lot of measures here in place, but it is a big task to ensure the government enables the building of more homes across the country in all communities. This will be done not just in large urban centres, but in smaller communities in the country as well. It will require multiple initiatives, like the ones I have outlined, for that to happen. What will not help are mere slogans. Just to say that we will build homes, as we hear from the Conservatives and as we hear from the member opposite, is not going to build a single home. These measures will.

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