Madam Speaker, the facts are that inflation is on the rise and with it interest rates will go up sooner than expected. A rise in interest rates will cause debt-servicing costs to also skyrocket.
The PBO confirmed yesterday that interest rate increases will add, on average, $3.4 billion in debt interest costs annually. That is $3 billion less for health care, infrastructure or helping make small businesses more competitive.
Therefore, I ask again: Why has the government failed to put a credible economic plan in place?