The Trudeau government has wasted billions of dollars on programs that have failed to deliver results.
This wasteful spending has, thus, caused a spike in interest rates by another 0.5% for the seventh time in 2022, bringing the total rate to 4.25%.
According to a statement by the Leader of the Conservative Party of Canada and the Official Opposition, Hon. Pierre Poilievre;
"First-time home buyers are now paying $500 more in monthly payments for the same mortgage as they were a year ago, and it now takes 67% of income to service a traditional mortgage. This is all thanks to Justin Trudeau’s inflationary and wasteful spending. The cost-of-living crisis will push more struggling Canadians over the edge."
According to Hon. Pierre Poilievre, the report by the Auditor General, confirmed his warnings since 2020 - wasteful spending because of the absence of control which has led to $32 billion in overpayments and suspicious payments.
Furthermore, Scotiabank analysts have estimated that 1.25% of these "punishing" hikes have been directly related to COVID payments.
Going by this, it's clear that Justin Trudeau's tax and spending policy hurts Canadian taxpayers and may force many families into poverty.
Pierre Poilievre concluded, “Canadians are out of money, and Justin Trudeau is out of touch, but Conservatives have a plan to clean up this mess. We will cap government spending, we will make more energy, food, and homes here, and we will axe the carbon tax. Canadians can’t afford Justin Trudeau and his costly coalition anymore, it’s time to bring “common cents” back to Ottawa.”
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