Mr. Speaker, the very first thing these Liberals did when they got their backroom deal majority was to stack the deck on committees, and now they are ramming through legislation and cutting off debate. This bill needs proper scrutiny, because it is a budget implementation bill that would add billions of dollars to the national debt. The last projection for this current fiscal year by the Trudeau government was that the deficit would be in the low thirties of billions of dollars. Now the deficit is more than twice that, with $30 billion of extra debt racked up on the national credit card. All this adds to more inflation. This is the same playbook the Liberals were running for 11 years: more dollars chasing fewer goods.
Can the minister explain to the House why he thinks things will happen differently this time? We see the very same scenario. The Bank of Canada is buying government bonds. The creation of money, the money supply, the amount of money in circulation has been increasing at a rate of about twice that of the GDP. When we have more dollars chasing fewer goods, we get inflation, which is the worst kind of tax because Canadians have no say over it.
Can the minister explain why he thinks things will be different this time?