MP Report: The Cost of Living and Justin Trudeau’s Inflationary Deficits
As your Member of Parliament, I am deeply concerned about the state of Canada’s economy and the cost of living for hardworking Canadians. The dream of home ownership has died for young and new Canadians under Justin Trudeau, and the cost of basic necessities like food, heating, and transportation continues to rise.
First and foremost, we need to bring home powerful paycheques with lower taxes. Justin Trudeau’s tax hikes are hitting workers and small businesses hard, and it’s time to give them a break. The Canada Pension Plan tax and Employment Insurance tax increases this year are an additional $305 out of the pockets of workers making more than $66,600. This is unacceptable, especially when the Canada Food Price Report 2023 predicts that a family of 4 will spend up to $1,065 more on food this year, $598 more than the rebate that they will receive. Justin Trudeau’s grocery rebate just gives money back to Canadians that he already clawed away from them with his tax increases. It won’t solve the cost-of-living crisis driving many struggling Canadians already over the edge!
Secondly, we need to bring home lower prices by ending inflationary debt and deficits that drive up inflation and interest rates. The Liberal government’s debt and deficit spending have skyrocketed, and it’s driving up the cost of the goods we buy and the interest we pay. Canada’s federal debt for the 2023-24 fiscal year is projected to reach $1.22 trillion, nearly $81,000 per household in Canada. There is no path to balance in Canada’s budget projections, and the deficit for 2022-2023 is up to $43 billion. Budget 2023 projects a $14 billion deficit in 2027-2028, which is as far as the projections go. Justin Trudeau’s inflationary debt and deficits are unsustainable, according to his own Finance Minister. We need to rein in spending and focus on balancing the budget!
Thirdly, we need to bring homes into the marketplace that people can afford, by removing government gatekeepers to free up land and speed up building permits. The dream of home ownership has died for young and new Canadians under Justin Trudeau. Nine in 10 people who don’t own a home say they never will. Canada has the lowest number of housing units per 1,000 residents of any G7 country, and the number of housing units per 1,000 Canadians has been falling since 2016, owing to the sharp rise in population growth. According to the Canada Mortgage and Housing Corp., Canada needs 3.5 million more homes than projected to restore affordability. The U.S., with a population 10x our size, only needs 5 million additional homes. Justin Trudeau has no plan to get gatekeepers out of the way and get more houses built. We need to speed up building permits and get government out of the way so that Canadians can get into the affordable homes they need.
The rising cost of living is a major concern for Canadians, and it’s time for the government to take action. I want to make it clear that Canada’s Conservatives have a plan to lower taxes, cut spending, and grow the economy. We will scrap the carbon tax so hard work pays off again, and we will work to create jobs and opportunities for all Canadians. As Conservatives, we are committed to addressing the cost-of-living crisis and bringing relief to hardworking Canadians. We believe in a Canada where individuals can keep more of their hard-earned money and where government interference is minimized, allowing the free market to thrive. We will continue to fight for policies that empower Canadians and promote economic growth, leading to a brighter future for all.
Together, we can build a Canada that is prosperous, affordable, and where the dreams of home ownership and financial security are within reach for every Canadian.