Ottawa, ON – After nine years of Justin Trudeau, life has become unaffordable. Trudeau’s inflationary spending and taxes have driven up the cost of everything, forcing the Bank of Canada to slam on the breaks with the fastest increase in interest rates in Canada’s history.
Today, the Governor of the Bank of Canada, Tiff Macklem, confirmed that Trudeau’s $61 billion in new spending is “not helpful” in bringing inflation down and lowering interest rates. This means that the Bank of Canada will have to keep their interest rates at their current level for longer, at a time when millions of Canadians are beginning to renew their mortgages. Trudeau just isn’t worth the cost.
The Governor also warned Canadians that unaffordable housing will continue into the future. This follows a report from the Canadian Mortgage and Housing Corporation (CMHC) which confirmed that housing construction is plummeting. The Liberals simply aren’t building enough homes for Canadians to live in.
Before Trudeau announced his budget, the former Liberal Governor of the Bank of Canada, David Dodge, warned the Liberals that their spending is making it harder to bring down interest rates. But Trudeau has stopped listening. In the most recent budget, the Liberal Government added $61 billion in new inflationary spending, costing the average Canadian family an extra $3,687. Canada is now spending more on debt interest than on health transfers.
Canadians deserve a government that will stop Trudeau’s inflationary deficits and taxes that are driving up interest rates. Only Common Sense Conservatives will axe the tax, cap the spending, fix the budget and bring home lower prices for all Canadians.