MP Report – Fighting Reckless Spending

Justin Trudeau’s reckless spending and monetary policies are hurting Canadians.

Following two 50 basis points interest hikes, and the most recent 100 points increase in July, the Bank of Canada warns that it will likely raise rates further to combat the out-of-control inflation that is driving the cost-of-living crisis, now at 8,1%; the highest it has been since 1983. 

Canadians are stretched thin with the rising cost of interest rates, groceries, skyrocketing rent and housing costs, and record-high gas prices.  Justin Trudeau and the Liberals continue to ignore the issue, claiming that this is a global phenomenon and continuing their out-of-control spending.    

Conservatives offered practical solutions to provide Canadians relief at the pumps by suspending the GST and eliminating the Carbon Tax, ending federal COVID-19 restrictions to help the tourism sector, providing relief to farmers by removing the tariff on fertilizer bought before March 2, but the NDP-Liberals voted against every single suggestion. 

Instead, the Deputy Prime Minister announced an $8.9B ‘Affordability Plan’ taking effect in the fall.  This ‘plan’ offers nothing new.  It simply repeats what was announced in the budget: spending, and lots of it.  The last thing our economy needs is more spending.  This flawed economic approach demonstrates a fundamental lack of understanding of the causes of inflation; spending will only fuel inflation further.  More importantly, Canadians need help now, not in the fall.

Conservatives will continue to propose common-sense solutions that leave more money in the pockets of Canadians and protect the value of the money that they earn.