Mr. Speaker, Canadians are facing an affordability crisis. Everything costs more, from the grocery store to the gas pumps. Mortgages have doubled, rents have doubled and down payments have doubled. The dream of home ownership is dead for nine out of 10 Canadians. Liberal inflationary spending has caused food prices to skyrocket, and one in five Canadians is skipping meals because they cannot afford to eat.
Families are struggling to make ends meet. Food banks are overwhelmed. In my community, food banks are at risk of bankruptcy because of a surge in demand, and 33%, or one-third, of food bank users are children. Overdose deaths have increased 300% in B.C. The leading cause of death among 10- to 18-year-olds is drug overdose.
This is heartbreaking, and the people in my province need some good news. Unfortunately, StatsCan reported today that inflation remains high. After eight years of reckless spending, Canada's national debt sits at $1.2 trillion. Think about that for a second. That means debt servicing costs will be almost $44 billion this year alone. These are tax dollars that could have been used to invest in addiction recovery services or to help address the housing crisis. Instead, those tax dollars will go to rich bondholders.
At a time when everything feels broken, the Prime Minister has spent the cupboards bare and has no plan to bring the nation's finances into a better position to respond to the real needs of Canadians. This is because of years of blatant disregard for fiscal prudence and monetary policy. We now have a tired, desperate NDP-Liberal government that is out of ideas. It has resorted to recycling broken campaign promises and adopting Conservative policy, albeit watered down.
Its housing accelerator fund has not built a single home. It is nothing more than a housing hoax. The Prime Minister has added more debt than all other prime ministers combined. There is no plan to balance the budget and no plan to get his inflationary deficits under control.
This is the Prime Minister who thinks budgets balance themselves and asks Canadians to forgive him for not thinking about monetary policy. His laissez-faire attitude toward public finance has put the well-being of far too many Canadians in crisis. Government spending has driven up inflation rates, and those rates have put Canada at the brink of a mortgage default crisis.
That is why the leader of the Conservative opposition brought a common-sense motion to the House today. Our motion calls on the Prime Minister to table a fiscal plan that includes a pathway back to a balanced budget. He must do so before the Bank of Canada announces its next rate decision later this month. This motion is urgent and necessary. The government must start spending within its means, something that Canadian families do every day to balance their own household budgets.
In June, the Minister of Finance took to social media to declare victory over inflation. She told Canadians the Liberal plan to tackle inflation is “working” and that the Liberals were making “real progress”. Since then, inflation has gone up 43%. She fails to learn the lesson that excessive government spending and cruel tax hikes are the reason she is losing the war against inflation. After eight years, it is clear that the Liberal fiscal plan is not working and that the Prime Minister is not worth the cost.
Common-sense Conservatives have a plan to reverse these deficits so we can bring down inflation, bring home lower prices and bring homes that people can afford. We will cap government spending, cut waste and bring in a dollar-for-dollar law that requires the government to find a dollar of savings for any new dollar of spending. That is common sense.
We will also axe the punitive carbon tax. When we tax the farmer who grows the food, the trucker who ships the food and the store that sells the food, we are taxing the hard-working Canadian family struggling to pay for that food. The Liberal government has failed to reach any of its emission reduction targets, so all of this financial pain is for no environmental gain.
Liberals and their enablers in the NDP justify their position by suggesting that the carbon tax is not high enough. Speaking about the carbon tax, the Liberal member for Halifax said, “Ultimately they don't want to pay for it, but that's what changes behaviour, so if we rebate them everything they've paid for the pollution price, it defeats the whole purpose. There needs to be a bit of pain there. That's the point of it.”
How out of touch can they be? Other Liberals, such as the member for Avalon, finally admitted that the carbon tax is causing harm to Canadians. When asked about the political consequences the Liberals will face because of the carbon tax, the member for Avalon said:
I think it's hurting them a fair bit. Everywhere I go, people come up to me and say, “We're losing faith in the Liberal Party”.
I've had people tell me they can't afford to buy groceries. They can't afford to heat their homes....
It is too little too late. That member voted to implement the carbon tax, and his party continues to punish Canadians with it.
On housing, the Prime Minister does not think it is his responsibility, but the buck stops with him. It used to take 25 years to pay off a mortgage. Now it takes 25 years to save for a down payment.
Vancouver is the third most unaffordable housing market on the planet. In my community, mortgages now cost thousands of dollars more per month, forcing people out of home ownership. We are not building homes quick enough to keep up with demand because big city gatekeepers impose unnecessary delays and red tape.
A C.D. Howe study determined that gatekeepers and regulations add nearly $1.3 million to the cost of an average home in Vancouver. Meanwhile, CMHC bureaucrats in Ottawa are rewarded with millions of dollars in bonuses for a lackluster performance.
Conservatives know we need to build homes, not bureaucracy. We will reward cities that are getting homes built with additional infrastructure dollars and a building bonus, and we will withhold transit and infrastructure funding from cities until sufficient high density housing around transit stations is built and occupied. We will cut the bonuses and salaries for ineffective bureaucrats, and if needed, we will fire the gatekeepers at CMHC if they are unable to speed up approvals for housing programs to an average of 60 days. We will list 15% of the federal government's 37,000 buildings and all appropriate federal land to be turned into homes people can afford.
Conservatives will turn the hurt the government has inflicted into the hope Canadians deserve. Canada should be a place where our citizens can afford to buy a home, put food on the table and save for the future. This is common sense. Only Conservatives will bring it home.
