Poilievre challenges Justin Trudeau’s talking points on inflation, and rising interest rates.
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Summary
Learn English with Justin Trudeau. Prime Minister Justin Trudeau delivers a speech on inflation and deficits. Justin Trudeau speaks on deficits, inflation, and the need to balance the budget. Speaker: The Prime Minister's Speech on Inflation and Deficits
Transcript
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Asked by my associate finance shadow minister, if deficits had been smaller, would inflation have been lower?
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He also said inflation in Canada is increasingly reflecting what's happening in Canada.
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Former Liberal Premier of Nova Scotia said, on the inflation side,
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if governments, both nationally and sub-nationally, continue to spend beyond their means spending to pay the credit card of the government of today,
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they are going to continue to have inflation that continues to increase.
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If he won't believe me, will he at least believe his officials and his Liberal friends?
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Mr. Speaker, I believe this is the first time we've heard the Leader of the Opposition even indirectly criticize provincial governments
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that are racking up significant spending that is inflationary.
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On the federal side, we have been very cautious about targeting the measures so that they are not contributing to inflation,
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even as we continue to support Canadians, to support families, to support seniors, to support workers,
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with measures that, on top of that, the Leader of the Opposition is excited about filibustering and blocking tonight.
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Mr. Speaker, we're going to be there to help low-income workers, despite their political gains.
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Mr. Speaker, it's not just the Governor of the Bank of Canada who says deficits contribute to inflation.
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It's not just the former Liberal Deputy Prime Minister and Finance Minister, John Manley,
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who says that deficits contribute to inflation.
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It's his own actual Finance Minister and Deputy Prime Minister.
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She said that deficits pour fuel on the inflationary fire.
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And that's exactly what she did with this budget, $60 billion in additional inflation.
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That's $4,200 per family, which now has led to higher interest rates.
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Will he announce a plan and a deadline to balance the budget to bring down inflation and interest rates?
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Mr. Speaker, the Right Honourable Prime Minister.
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Mr. Speaker, the Bank of Canada is acting to bring down inflation, and it's working.
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At the same time, our job as a government is to be there to support Canadians,
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to be there with supports for families, to be there with supports for kids who need dental care,
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to be there with supports for Canadians who are struggling right now.
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The Conservative approach is to cut programs, to cut supports for Canadians,
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at the same time as we are standing up to help Canadians through this difficult time and out to the other side.
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Mr. Speaker, it's clear that the Prime Minister's staff handed him a stale briefing note,
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It just so happens that that month followed the introduction of the $60 billion of brand-new,
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above-and-beyond inflationary spending by this Minister.
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We now know that deficits contribute to inflation, which raise interest rates.
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The Bank of Canada is trying to bring down that inflation while he continues to pour the gas on the fire.
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Will he stop that irresponsible practice and deliver a balanced budget to bring down inflation and interest rates?
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Mr. Speaker, at least the Leader of the Opposition is consistent in not letting facts get in the way of a good political argument.
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Whether it's on climate change, whether it's on foreign interference,
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or whether it's on the Bank of Canada and inflation, he's continuing to fear-monger.
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He's continuing to amplify erroneous fears that Canadians have.
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At the same time, as we are delivering supports in a targeted way,
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We have the lowest debt-to-GDP ratio of any G7 country.
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We are continuing to be there for Canadians in a non-inflationary way that is targeted and right.
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Mr. Speaker, tonight, families will sit down with their kids at their dining room table to say,
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Because mortgage payments are going to go up by as much as $1,500 per month.
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That's according to the Bank of Canada, which predicts a 40% increase in mortgage payments.
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People can't pay $15,000 more in mortgage payments.
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They have only $200 left in the bank at the end of the month.
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Will the Prime Minister acknowledge that these are real fears by real people and stand on their side?
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Mr. Speaker, where the Leader of the Opposition falls down is his solution for those families is to do less for them.
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To take away the programs that are helping them, like the Canada Workers' Benefit.
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We are bringing forward payments for the Canada Workers' Benefit so that low-income workers can get more help right now.
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And that Leader is going to stand up for hours tonight and block that measure, Mr. Speaker.
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And those Conservatives are standing in the way with silly procedural games.
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But the change is for people in much tax and í‹° 먹는 í•śęµEscolle.
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So if there's no need to be information, the day should be 그다음.
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If they are not meant to be done something like this or that.