Discussion · Oral Questions
Gérard Deltell Conservative
“Higher interest rates and inflation will hurt families by raising mortgage costs and slowing down housing. I want the government to answer if any of its ministers understand that big debts and deficits cause inflation.”
“Mr. Speaker, this is terrible news for all Canadian families. Yesterday, the Bank of Canada announced that, for the first time in three years, the key interest rate is set to rise and inflation is set to climb to 3.5% for the year as a whole. What does this mean in practical terms? It means that mortgage rates will rise. It risks slowing home sales, placing additional pressure on homeowners and bringing housing construction to a standstill. Is there a single minister in this government who actually understands that colossal debts and deficits lead to inflation?”
Official Hansard
Mr. Speaker, this is terrible news for all Canadian families. Yesterday, the Bank of Canada announced that, for the first time in three years, the key interest rate is set to rise and inflation is set to climb to 3.5% for the year as a whole. What does this mean in practical terms? It means that mortgage rates will rise. It risks slowing home sales, placing additional pressure on homeowners and bringing housing construction to a standstill. Is there a single minister in this government who actually understands that colossal debts and deficits lead to inflation?