Madam Speaker, it is always a privilege to rise in the House on behalf of the residents of Brantford—Brant. The budget released by the current out-of-touch government, blindly supported by the NDP, fails to support the number one issue to my constituents and to many Canadians, which is the cost of living crisis. The costly coalition is solely responsible for the financial uncertainties Canadian families have been facing for the last eight years. Conservatives and Canadians have been calling out the Prime Minister's inflationary taxes and spending as they continue to hurt the hard-working people of this country the most.
With the support of the entire Conservative caucus, our leader demanded that this budget work for the people who work for this country. We had three clear demands, which were as follows: ending the inflationary deficits and spending; lowering taxes, including scrapping the carbon tax; and removing government gatekeepers to free up land and speed up building permits, so that people can afford housing in this country once again. Unsurprisingly, this budget fails to fulfill any of these demands. Instead, it would bring an extra $43 billion of new inflation, debt and taxes. This is what the Prime Minister delivers year after year: debt, inflation and more costs on the backs of hard-working Canadians.
Last year, the Deputy Prime Minister pledged that the debt-to-GDP ratio would decline and that deficits would be reduced. She said, “This is our fiscal anchor. This is a line we will not cross. It will ensure that our finances remain sustainable.” A year later, her boss and the entire Liberal team definitely crossed that line numerous times.
I will specifically discuss how this budget fails to address the cost of living crisis that is hurting Canadian families, how the coalition focuses on flushing out the pockets of taxpayers and punishing workers and what the next Conservative government would do differently.
On April 1, the Liberal carbon tax increased to 14¢ per litre, making it more expensive for Canadians to heat their homes and get to work. Despite the Liberals claiming for years that 80% of households that were paying the carbon tax would end up with more money in their pockets, the PBO confirmed what we Conservatives have been saying all along: The carbon tax will actually put Canadians in a worse financial position. As outlined by the PBO, the carbon tax will cost the average family between $400 and $847 in 2023, even after the rebates.
The carbon tax is not now and has never been an environmental plan. It is a costly tax plan that is damaging to families, especially those on a fixed income and those who live in rural areas. In fact, the current government has failed to hit any of its emissions targets.
Statistics Canada recently reported that grocery prices are rising at the fastest rate in 40 years. Almost a quarter of Canadians have had to cut back on the food they buy to keep up with rising grocery prices; to cope with food costs, 20% of families are skipping meals. As the current government knows, last summer was the worst for Canadian food banks in 40 years. They recorded 1.5 million visits in just one month, which is a 55% increase over 2019. The number of visits is projected to be greater this year. Working Canadians need and deserve concrete and fiscally responsible changes. The all-talk, no-action approach taken by the Prime Minister is failing Canadians.
Canadians are the ones paying for the government's agenda. What is the government offering in return through this budget? It is offering a grocery rebate; in reality, this is nothing more than an enhanced GST credit of anywhere from $200 to $500. Shockingly, this will not be made available until July of this year. This works out to approximately $3.85 to $9.61 a week. The government is making a mockery of the cost of living crisis by suggesting that this credit would make a tangible difference in the lives of Canadians. This is not even enough to cover the cost of milk and cereal for children in a given week.
In addition, “Canada's Food Price Report 2023” predicts that a family of four will spend over $1,000 more on food this year. This is almost $600 more than the $467 rebate that such a family would receive. This so-called rebate would not even come close to covering the rising cost of food that the Liberal deficits and tax hikes have caused. It would permit the rising cost of living, however, as the price of food is expected to increase by an additional 5% to 7% by the end of the year.
The budget contains no new policies to increase the supply of Canadian housing, even as record-high immigration places unprecedented stresses on home and rental prices. The reality is that home prices have doubled since the tax-and-spend Prime Minister took office in 2015.
There are 35-year-olds who have no choice but to live in their parents' basements; they are unable to buy a home and start a family. According to Bloomberg, Canada has the second most inflated housing bubble in the world. Monthly payments on mortgages are rising even as house prices are dropping.
We have an amount of available land that is second in the world, yet Vancouver and Toronto are the world's third and 10th most overpriced housing markets. To put that into perspective, renters in Toronto can now expect to pay over $2,300 per month for a one-bedroom apartment. The government housing benefit, involving a one-time payment of $500, was nothing more than a small bandage on a serious crisis.
To give this point greater emphasis, The Canadian Press reported today that only 44% of those who would have likely been eligible for the one-time top-up to the housing benefit actually received it, and just over one-half have received the Canadian dental benefit. That is unbelievable and inexcusable incompetence.
The expenses of the government are driving up the cost of living. In the Prime Minister’s legacy, he will stand as the one who has doubled Canada’s deficit, adding more debt than all Canadian prime ministers combined.
Inflation is at a 40-year high. Canadian homeowners experienced eight consecutive interest rate hikes, at the fastest rate in decades. If families bought a modest home with an affordable mortgage five years ago, and it is now up for renewal, they will pay $7,000 more a year.
The former chief economic analyst of Statistics Canada says that, by failing to control spending, the government’s budget is working against the Bank of Canada’s policy to reduce inflation. The Prime Minister believed that the budget would balance itself, claimed he was not interested in monetary policy and took on debt so people would not have to. He is now advising, with a serious face, that Canadians should be fine with using their credit cards to pay for tuition and home renovations.
CTV News reported that more and more Canadians are resorting to debt to pay bills amid high inflation. This is not to mention that the average increase in debt payment because of higher interest rates is another $2,000. Despite the Liberal political narrative, it has been revealed that 40% of all new spending measures had nothing to do with COVID. That is an astonishing $205 billion.
Despite this abysmal track record, it is important for Canadians to know that not all hope is lost. A Conservative government would turn the financial situation in this country around. To be specific, a Conservative government would create more cash flow by creating more of what cash buys. We would produce more food, gas and other resources here in Canada.
We would remove government gatekeepers by building more homes and making Canada the place where one can get a building permit most quickly in the world. We would make energy more affordable. The next Conservative government would repeal anti-energy laws and get Canadian energy out into the world market.
We would cut corporate welfare and scrap the carbon tax, while simultaneously tackling climate change by making alternative energy cheaper instead of making everything else more expensive. We would reform the tax-and-benefit system, making sure that Canadians are rewarded for their work, and putting those hard-earned dollars from picking up an extra shift into their pockets, not the government's pocket.
We would be a government that restores hope. We would rekindle the belief that people’s paycheques and savings can buy them a decent life. We would make fiscally responsible decisions to create an affordable life for Canadians. We would restore Canada’s promise in a country where everyone has the ability to achieve their goals, regardless of who they are.
I will continue to stand for the interests of my constituents and fight for all working Canadians. I will not be supporting this inflationary budget bill.
