Mr. Speaker, with the Finch report on the personal debt bubble in Canada, it is clear that Canadians are struggling just to get by and meet their obligations with $1.67 of personal debt for every $1 of annual income.
The minister just boasted of having tightened the rules recently. Will he admit that it was under his reign as Minister of Finance that the rules were loosened in the first place? It was under the present minister that 40-year mortgages with no down payment were brought in to Canada. Will he admit for the first time in the House his own personal responsibility for helping to create the personal debt bubble in Canada?