Madam Speaker, the Prime Minister is definitely responsible for it.
We now know that every excuse the government has come up with does not hold water. For example, it says that COVID‑19 caused inflation. However, it has now been more than a year since we stopped shutting down large swaths of the economy because of COVID‑19, and yet the rate of inflation keeps going up. The government says that inflation is due to the war in Ukraine, but our inflation rate was already double the target before the war even began. The government also says that it is due to the high price of oil, but the price of oil was the same when the Harper government was in place, and we never had an inflation rate over 4%. Finally, there were wars in the Middle East, in Iraq, in Syria and in Afghanistan when the Harper government was in place, and we did not have inflation like we are seeing now.
What we have today is $500 billion of inflationary deficit that is driving up the cost of everything we buy and all the interest we pay. It is just inflation, and the Prime Minister is indeed responsible for it.