Mr. Speaker, it is not a “measure to modify the tendency” to get his Minister of Finance to call banks and insurance companies asking them to raise mortgage rates. That does not help Canadian families deal with their debt.
Let us put it into perspective. The Bank of Canada and the IMF have already downgraded their economic growth projections for Canada. That will translate to a $9 billion loss for our economy and roughly 150,000 jobs. Apparently, like his Minister of Finance, he does not understand that asking them to raise mortgage rates is not a plan to deal with household debt. Will the Prime Minister start taking real action to deal with the real issue of household debt in Canada?