Thank you, Mr. Chair.
I'd like to welcome the representatives from the Bank of Canada and the Department of Finance. Thanks for being with us today.
While it's a sunny day in Ottawa, dark clouds, storm clouds, are looming across Canada, as the Liberal government's inflationary spending has driven interest and mortgage rates way up. With all of this borrowed money and an astronomical annual interest payment of $53 billion on $1.3 trillion of debt, Canada is now spending more on debt interest than on health transfers. It's so sad to see more money being given to bankers and bondholders than to the provinces to pay nurses and doctors in our health care system, an unfortunate reality in my home province of New Brunswick.
Would the senior deputy governor agree that Canada's inflation problem, national debt problem and endless annual deficits under the Liberal government are closely related in damaging Canada's overall fiscal position?