A day after the Bank of Canada raised its benchmark interest rate to 4.75 per cent, inflation and spending continued to be hot topics during question period in Canada's House of Commons on Thursday.
North Umberland-Peterborough South MP Philip Lawrence rose to say “We know deficits lead to inflation, inflation leads to interest hikes and interest hikes lead to mortgage defaults. How many Canadians will lose their homes before this prime minister learns his lesson?”
Government House Leader Mark Holland responded: “Yesterday, Mr. Speaker the member opposite said that Ireland was the place to be. I would say that the facts show that this is the greatest country on earth. This is the place where we’re leading growth and change. Where we’re transforming into the economy of the future. Where we’re building the jobs of the future. We love this country while they idolize others,” bellowed Holland to the raucous cheers from the Liberal gallery.
“I must have misheard because he said he admired Canada – I heard the prime minister say he admired the basic dictatorship of China,” Lawrence retorted.
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North Umberland-Peterborough South MP Philip Lawrence rose to say “We know deficits lead to inflation, inflation leads to interest hikes and interest hikes lead to mortgage defaults. How many Canadians will lose their homes before this prime minister learns his lesson?”
Government House Leader Mark Holland responded: “Yesterday, Mr. Speaker the member opposite said that Ireland was the place to be. I would say that the facts show that this is the greatest country on earth. This is the place where we’re leading growth and change. Where we’re transforming into the economy of the future. Where we’re building the jobs of the future. We love this country while they idolize others,” bellowed Holland to the raucous cheers from the Liberal gallery.
“I must have misheard because he said he admired Canada – I heard the prime minister say he admired the basic dictatorship of China,” Lawrence retorted.
For more info, please go to https://globalnews.ca/news/9751501/bank-of-canada-interest-rate-june-2023/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #interestratehike
- Category
- U.S. & Canada
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- global news, Canada politics, question period
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