Mr. Speaker, yesterday after the announcement of the downgrading of Canada's rating for foreign currency debt, the Minister of Finance stated it only affected a small portion of our total debt so it was no big deal.
Now the Bank of Canada has increased its key lending rate which undoubtedly will result in increased borrowing costs for Canadian consumers and businesses. It is also having an impact on the cost of government borrowing.
The budget did not address the deficit or debt. Now all Canadians are starting to pay for this short-sightedness.
When will the government realize it is on a course to financial disaster and revise the budget to deal with the problems it has created? Could it be that the government believes that all problems faced by Canadians are no big deal?