Ottawa, ON – After nine years of Justin Trudeau, life has never been so hard for Canadians. Unemployment and economic misery rise, while paycheques are shrinking. Trudeau’s inflationary spending has driven up the price of groceries, gas and heating. His endless tax hikes drive businesses, jobs and investments out of our country.
Today’s announcement from the Bank of Canada reflects the miserable state of our economy. Under Trudeau, Canada has had the worst growth in income per person since the 1930s. Families are having to spend $700 more for groceries this year than they did in 2023, and millions of people are having to line up outside of food banks just to survive, including one in ten people in Toronto.
Over the last two years, Trudeau’s insane inflationary spending forced the Bank of Canada to hike rates at the fastest pace in history to try and slow down Justinflation. And despite multiple warnings from Common Sense Conservatives that the Liberal’s spending was keeping interest rates higher for longer, Trudeau decided to pour an extra $61 billion of spending onto the inflationary fire in their most recent budget. This will cost the average family an extra $3,687.
In 2021, Trudeau bragged that he doesn’t “think about monetary policy.” This has never been more obvious to the countless Canadians who are now paying thousands of dollars more on their mortgage than they would have if Trudeau decided to keep his spending under control.
After nine years of this Liberal Government, Canada now has the worst housing inflation, and among the lowest economic growth in the OECD. Business investment per worker in Canada is barely half that in the US. Our GDP per capita is smaller than it was 5 years ago, while the American economy is up 8 percent. And our national debt has doubled. Just this week, the Fraser Institute projected that Canada will be dead last in per-capita GDP growth in the OECD from both 2020-2030 and 2030-2060.
As a direct result of the misery-inducing economy that Trudeau has created, the Bank of Canada has once again stepped in to try and help the Liberal Government. But this negligible 0.25 percent rate cut will not provide any relief for the family that has to sell their home or the farmer who can’t afford fuel for their vehicle.
Canadians deserve a government that will put an end to Trudeau’s inflationary deficits and taxes that are keeping interest rates sky high. Only Common Sense Conservatives will axe the tax, cap the spending, fix the budget and bring home lower prices for all Canadians.