Mr. Speaker, the value of the Canadian dollar compared to the U.S. dollar has dropped approximately 25% since the Liberals came to power. The implications of this fact are important.
First, it creates an attitude of complacency on the part of Canadian exporters. Due to the lower Canadian dollar, Canadian exporters observe that they can easily compete with a similar product produced in the U.S. without maximizing efficiencies of operation. Canadian workers are lulled into a false sense of security that their jobs will be safe.
Second, the lower Canadian dollar means a higher cost of living for Canadian consumers. That creates hardship, particularly for Canadians on limited or fixed incomes, many of whom are seniors.
How much lower is the Liberal government willing to let the dollar fall? The Liberal notion of Canada's competitiveness is a fool's paradise that builds wealth on a false sense of security and efficiency. It is time to stop the Canadian dollar from falling further.