Madam Speaker, I noted that when the member was talking about the IMF, he was cherry-picking points from the IMF's report that strengthened his case. I have a chart in front of me of housing market risk indicators. It says, “Economies with high household debt and more floating-rate loans have greater exposure to higher mortgage payments, and a heightened risk of defaults.” Then it lists a number of countries. Do members know which country is rated as having the highest risk of all of them? It is Canada. I wonder if the member could explain why.
In the House of Commons on June 21st, 2023. See this statement in context.