Obviously, the cost of living and inflation rates have put additional financial pressures on households. These are global phenomena right now. I'm not sure they're attributable to the actions of any one government. I think there are other dynamics at work that we can all read about in the newspaper.
If you look over the past 30 years, Canadian households have been increasing their debt loads and their savings levels have been dropping. There are broader structural drivers that have been at work in Canada for decades that are causing households to become less and less financially resilient. I don't think Canada has done as good a job, under any government, of unpacking what is actually driving these changes over the past decades and putting in place solutions to help households become more financially stable and resilient.
If we look to the U.S., the U.K., Australia and even New Zealand, they've done a much better job than we have at understanding what is driving these changes and putting in place national solutions, in partnership with the financial sector and their community sector. I would encourage our government—whoever is in government—to be working in the same direction.
Thank you.
I'm afraid I have to leave for a medical appointment. I'm going to have to say goodbye.
Thank you to the committee for having me today.