Mr. Speaker, on the contrary, the growth in Canadian household debt over the past few years has been primarily in the areas of mortgages. Because Canadians have been feeling confident about the state of their own household and about their ability to handle additional mortgage debt, they have been able to purchase new homes or larger homes.
At the same time, along with the Governor of the Bank of Canada and others, we have expressed our concern about the growth of this debt, as interest rates will eventually go up, and have urged moderation. I am glad to see that some of the recent steps the government has taken have encouraged households to moderate their accumulation of debt.