Since the beginning of the pandemic, inflation has risen to multi-decade highs. This is an overwhelming issue for Canadians from coast to coast. Rampant government spending, lack of consistent and reliable supply chains, disastrous monetary policy decisions, and a plethora of international blunders by the Liberal Government has our economy falling behind.
The cost of groceries is especially damaging to Canadians. Inflation has grown to 4.7%, well beyond the two percent target set by the Bank of Canada. Even more concerning is Scotiabank, and others major banks, expect high inflation to continue into late 2022 or through 2023.
Inflation simply means that the same amount of money buys less. The tragic irony of this is that those who can afford appreciable assets will benefit, while anyone on a fixed income or lower‑income Canadians will be impacted the most.
Conservatives have been ringing the alarm bell on the Liberals’ spending for years, and now we are seeing the ramifications of their policy decisions that were made without consideration of the consequences. Monetary and fiscal mismanagement decisions have contributed to these upward inflationary pressures that are hurting Canadians and are leaving future generations with a huge bill with little to show for it.
Other issues that Justin Trudeau and his Liberals have failed to address are extensive labour shortages across the nation, and to advocate for major resource projects, and softwood lumber has resulted in ballooning costs to businesses who are then forced to pass the costs onto everyday Canadians. These issues are in addition to the challenges posed by the massive drought this summer in Western Canada and the floods currently inundating British Columbia. Not to mention our troubled relationship with our allies and other states like the People’s Republic of China. The lack of a plan to deal with critical issues and the diplomatic blunders by the Trudeau Liberals have left Canadians in the lurch and with a higher cost of living.
Failed relationships leave our industries and businesses that provide critical goods and services handcuffed. When President Joe Biden axed Keystone XL and increased tariffs on softwood lumber, Justin Trudeau was missing in action. Resources such as forestry, agriculture, and energy are staples to Canadian economic success. Energy alone contributed $17.9 billion in Government revenue in 2018. The lack of access to critical markets and cooperation with our allies has Canada falling behind our peers; businesses are unable to sustain growth and unable to combat the rising costs of operations.
The bottom line is this: The Liberal Government was taking chance after chance with your money before the pandemic and they are now trying to justify their economic recklessness by saying they are helping Canadians. At the end of the day though, it is Canadians who pay the price for Liberal incompetence.
It is an honour to serve as the Member of Parliament for Battle River—Crowfoot. The Conservative Party has always been the party of fiscal responsibility and good governance, and we will continue to advocate for these issues as we move through this Parliament.