Mr. Speaker, it is clear there are different ways of measuring inflation. I am talking about the price increases in the last four months annualized, not year to year inflation where the tobacco increases are important.
The minister and the governor have already stated what the minister just repeated. However, unfortunately the tightening of monetary policy will again push Canada into a recession. It is inappropriate since inflation is caused not by excess demand but the depreciation of the dollar.
Will the Minister of Finance allow the Bank of Canada to precipitate another recession to fight inflation or will he do the right thing and stop the decline of the dollar by a new budget that eliminates the deficit promptly and decisively?