Mr. Speaker, not only does the incompetent finance minister not know the inflation target, she does not know that one locks in low rates when one has the chance.
Do members remember when the Prime Minister was saying to not worry, that we can double the national debt because, as he said, “Interest rates are at historic lows, Glen”?
The problem is that I told him at the time that they should lock in those rates for 10 years, or 30 years, with long-term bonds. It turns out that they did not do that, and now $400 billion of that debt will roll over into these higher rates, forcing Canadians to spend more on interest than on health care.
Why did he hire the worst mortgage broker in the world to be our finance minister?