Mr. Speaker, I wish to inform the member who just spoke that our economic strategy is working. Therefore his grandchildren will be well served by this Liberal government. Our interest rates are 2 percentage points lower than in the U.S.
We see jobs, low inflation and the lowest interest rates this country has seen in 35 years. For example, house resales were rising in late 1996 to about 45 per cent above the mid-1995 lows.
This is tremendous news for realtors and builders in Etobicoke-Lakeshore. New residential developments like Mystic Point, Greystone Manor and Grand Harbour Phase IV have all sprung up in my riding.
Sales of durable goods rose strongly in 1996. New vehicle sales were up by 8 per cent in the last quarter of 1996. This is marvellous news for the dealers in my riding.
In the last four months alone, 91,000 jobs were created and 9 out of 10 were-