Mr. Speaker, my reason for rising is the need for an emergency debate on the Liberal inflation tax. As the Speaker knows, half-a-trillion dollars of Liberal inflationary Liberal deficits mean more dollars chasing fewer goods leading to higher prices. It is a long-proven statistical correlation that when governments run huge deficits and print money to pay for it, prices rise for everything and everybody.
Academics, the media and Liberal politicians are trying to tie inflation to the COVID-19 pandemic. Unfortunately, that does not hold water. Saudi Arabia, Switzerland, England, Germany, China, India, Japan, Singapore, the other G7 countries and the eurozone are all grappling with the COVID-19 crisis, and yet inflation is not as high in those places.
Obviously, the cause of our inflation is the major increase in government spending, which is causing an increase in prices. More money and fewer goods mean higher prices.
We need to have a debate to protect the interests of consumers. Young people are unable to buy homes and often have to live in their parents' basement. Seniors are having a hard time buying groceries. The cost of gas in Canada is going up, partly because of the world price but also because of the stunning weakness of our dollar, which is linked to the fact we are printing money here in Canada.
Price hikes are taking their toll on poor people, those who are suffering, and those who do not have any financial or real estate investments to help them make money. These people need us.
I am therefore calling for an emergency debate to discuss the Liberals' inflationary tax.