Mr. Speaker, two weeks ago, the finance minister took another stab at addressing housing affordability and related mortgage insurance risk to Canadian taxpayers. Again, the finance minister is imposing a one-size-fits-all response on Canadian consumers and the mortgage industry while missing the target.
I am concerned for young families that will bear the brunt of the Liberal carbon tax and may now have a harder time achieving their dream of home ownership. I am also concerned about the effect of the minister's announcements on competition in the mortgage business. I am disappointed that this important policy change was imposed on consumers and the mortgage industry with no consultation or notice.
The finance minister is the one who has an out-of-control borrowing problem. TD Bank now estimates the deficit is going be another $5 billion more than budgeted. The minister thinks that low interest rates are dangerous for Canadian consumers, but a perfect justification for an out-of-control deficit. Nobody needs a lecture from the finance minister on the risks of excessive debt.