Mr. Speaker, what the parliamentary secretary is not telling us is that 40% of all that new spending had nothing to do with the pandemic. The Auditor General has now told us that over $30 billion was wasted. That is what is causing inflation.
The government's answer is to pour more inflationary gasoline on the raging fire. It is already taking a big bite out of Canadian households. As interest rates rise to fight inflation, Canadians have to pay more in interest payments to the banks, but so too does the Bank of Canada. The Bank of Canada has one shareholder, the Minister of Finance.
How much money will taxpayers be on the hook for to pay off the Bank of Canada's losses?