QUESTION PERIOD — Finance
Canada's Inflation Rate
December 8, 2022
Honourable senators, my question is for the Leader of the Government in the Senate. This year, 2022, was the year of “JustinFlation.” Every Canadian has been affected by the rising prices resulting from Justin Trudeau’s economic policy.
In 2023, “JustinFlation” is going to hit again. This week, experts from the University of Guelph, Dalhousie University, the University of Saskatchewan and the University of British Columbia published Canada’s Food Price Report 2022. They claim food prices are expected to jump another 5% to 7% in 2023. No food group will be spared from “JustinFlation.” For a family of four with two teenagers, the annual cost of groceries could rise by $1,066 for a total of $16,288.
Senator Gold, what is the government’s plan to combat “JustinFlation”?
It is nice to hear the term “JustinFlation” again. Unfortunately, it shows a lack of awareness of the report that was recently released by Scotiabank economists, who make it very clear, as I pointed out several times when other similar questions were raised, that the inflation that is affecting us all is primarily caused by factors that are beyond the control of any government.
Only a small percentage — 15% according to economists — is attributable to government spending during the pandemic. The government has implemented a number of programs to help Canadians facing challenges related to inflation and food costs, and it will continue to take appropriate action for the well-being of Canadians.
Unfortunately, government leader, it’s clear that “JustinFlation” keeps falling on deaf ears when it comes to the government. Unfortunately, the failed monetary policies of the Trudeau government are creating an enormous amount of anguish and stress amongst all Canadians, regardless of what talking points you want to quote.
The reality is Leger Marketing took a poll this fall. In Quebec, 42% of Quebecers are living with economic anxiety. That’s a fact. Failed monetary policies of printing money, runaway spending by this government and consecutive deficits year after year since this government came to power in 2015 are at the root of “JustinFlation” and what Canadians are facing.
Government leader, you can deny it all you want, but Canadians are living with this reality on a day-to-day basis. Canadians are paying more than ever and receiving less than ever. The question is simple: Will you acknowledge that the government has failed in this regard? Will the government change the Minister of Finance or will the government resign altogether and give Canadians relief?
Thank you for your question. It is passing strange to be accused of talking points when I report on an independent report of economists at the Bank of Nova Scotia, yet to be continually confronted with the talking points from your leader in the other place.
These are serious matters. Canadians are suffering. They deserve a serious approach —
Yes, they do.
— from the opposition, and they deserve serious responses from the Canadian government. That’s what they’re getting with this government — a responsible and prudent management of difficult times for Canadians.
Targeted support is being provided to Canadians to help them get through the rising costs whether of rent or of food. There is responsible management of our economy, and there is a respect for the independence of those institutions responsible for managing and trying to wrestle to the ground the inflation that has affected our country and many others.
