Moose Jaw, SK - Candidate for Prime Minister Pierre Poilievre issued the following statement on the Bank of Canada’s rate hike:
“Today, the Bank of Canada hiked the interest rate by 0.5%, another oversized hike that will make debt and mortgage payments even more expensive for Canadians already struggling to hold on. There’s one reason for this hike: JustinFlation. Trudeau’s inflationary deficits, and the Bank of Canada’s acting as his ATM, sent a half-trillion dollars out to bid up the costs of goods and his inflationary taxes made it more costly for businesses to produce those goods.
The number of new visitors to food banks has increased by as much as 60%. Gas prices are up to $2.09/lt in the GTA, $2.15/ltin Montreal and $2.34/lt in Vancouver with no signs of going down and despite rate hikes, home prices are still double what they were when Trudeau took office. Now, the interest rate hikes caused by this reckless spending will force families and businesses into debt, putting many at risk of bankruptcy.
I have a “common cents” plan to fight JustinFlation. As Prime Minister, I will:
1) Axe the carbon tax;
2) End the money-printing deficits;
3) Restore the Bank of Canada’s independence with a Governor who will fight inflation;
4) Instead of creating cash, create more of what cash buys: produce more Canadian energy and food, and build more houses
My plan will tackle inflation to give people back control of their lives and make Canada the freest country on earth”.
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