Translate Politics Parliament in plain language.

Policy Rate

During Statements by Members, a Conservative member commented on the Bank of Canada’s decision to raise its policy rate to 2.5%, its first increase in three years. He said the rate hike means families will pay more for mortgages, food, and gas, and pointed to the bank’s report on rising grocery prices. He called on the government to cut fuel taxes, develop natural resources, and reduce its spending. No other members’ statements on the topic were given in this sample.Written by AI from the debate. Updated .

Official text

1 statement

Luc Berthold

Conservative
“The Bank of Canada raised its interest rate, and families will pay more for mortgages, food, and gas. The government must cut fuel taxes, develop natural resources, and stop spending so much money.”
Official Hansard

Mr. Speaker, yesterday, Canadians received very bad news. The Bank of Canada has to raise the policy rate to 2.5%. That is the first increase in three years. This time, the Prime Minister cannot blame the old Liberal government. In its report, the Bank of Canada indicates that grocery prices will increase more quickly in 2027 because of rising energy costs that are reverberating throughout the food supply chains. The bank also points out that rising diesel prices are driving up costs for farmers. The Conservatives have been saying that for a while now. We have to develop our natural resources, eliminate federal fuel taxes to bring prices down, and give families a chance. In practical terms, what do these increases mean for families? They mean higher mortgage payments, higher grocery prices, higher gas prices, and less money in families’ pockets. What is the Prime Minister, a former top banker, gearing up to do? He plans to spend, spend, spend, run deficits and add even more to the debt. One thing is for sure: 11 years of Liberal rule has been quite costly.

View on ourcommons.ca Grade A– View analysis

Discussion

No comments yet

See the full discussion

Comment rules

More from sitting 158

All 44 items ·
  1. Government Orders Safe Social Media Act 38 statements
  2. Government Orders Safe Social Media Act 81 statements
  3. Statements by Members Policy Rate 1 statement
  4. Oral Questions International Trade 18 statements
  5. Oral Questions Finance 14 statements
  6. Oral Questions Justice 8 statements
  7. Oral Questions Public Safety 2 statements
  8. Oral Questions International Trade 2 statements
  9. Oral Questions Immigration, Refugees and Citizenship 8 statements
  10. Oral Questions Government Appointments 5 statements
  11. Oral Questions Steel and Aluminum Industry 7 statements
  12. Oral Questions The Economy 2 statements
  13. Oral Questions Fisheries and Oceans 2 statements
  14. Oral Questions Taxation 2 statements
  15. Oral Questions The Environment 2 statements
  16. Oral Questions Finance 2 statements
  17. Oral Questions Business of the House 2 statements
  18. Government Orders Safe Social Media Act 23 statements
  19. Oral Questions The Economy 2 statements
  20. Government Orders Safe Social Media Act 42 statements
  21. Oral Questions Intergovernmental Relations 4 statements
  22. Oral Questions Public Safety 2 statements
  23. Oral Questions Families, Children and Social Development 2 statements
  24. Private Members' Business National Strategy for Soil Health Act 16 statements
  25. Adjournment Proceedings Adjournment Proceedings 4 statements
  26. Adjournment Proceedings Adjournment Proceedings 4 statements
  27. Adjournment Proceedings Adjournment Proceedings 4 statements