Mr. Speaker, the finance minister is now limiting debate on his massive 800-page omnibus budget bill, so I have some questions for him if he has the courage to stand up in his place and answer those questions.
The deficit is three times what he promised this year. He said it would be about $6 billion during the election campaign, and instead it is $18 billion. Next year, the budget was supposed to balance itself. That is only a month from now, 2019. That was the year we were supposed to be deficit-free. That tiny, temporary deficit was supposed to be gone. Now, the government admits not only will it not be gone, it will be bigger next year than it is this year as this Prime Minister stacks another $20 billion on the national credit card.
When governments use deficit spending to buy products and services in a tight economy, they drive up prices for consumers. When they go out and borrow $20 billion more a year, they compete with homeowners and consumers for credit, and drive up interest rates. In other words, deficits not only drive up taxes tomorrow, they drive up the cost of living today.
Therefore, will the finance minister tell the House how much his massive deficits are driving up interest rates on Canadians trying to pay their mortgages?