Mr. Speaker, the downward slide of the Canadian dollar, coupled with the fact that interest rates appear to be on the increase, is cause for great concern. This disturbing situation comes at a time when the dollar has fallen to its lowest level in eight years.
For the consumer preparing to renew a $100,000 mortgage, this could mean an increase of $80 a month, just at a time when the largest number of real estate transactions are made.
My question is for the Minister of Finance. Does the Minister recognize that the downward slide of the Canadian dollar and the upward pressure on interest rates are largely attributable to the actions of Japanese investors who are divesting themselves in mass numbers of their Canadian securities?