Mr. Speaker, the Prime Minister misheard. It was the Minister of Finance who said that deficits cause inflation.
The Prime Minister also said that every dollar of deficit contributes to inflation. That is why they made the commitment, he and his finance minister, to “Maintaining the 2023-24 deficit at or below $40.1 billion”.
Last year's books have been closed for six months now. He certainly has all the data. How much was last year's deficit?