NW Week

Thursday, February 22, 2024

Conservatives failed in their attempt to start an urgent discussion on inflation

The attempt by conservatives to start an urgent discussion on inflation was failed.

Key Takeaways:

  • The Conservative Party could not move an urgent discussion on inflation before the House of Commons adjourned for the summer.
  • The new information was released at the same time that Statistics Canada reported on Wednesday that inflation reached its highest level in more than 40 years in May.
  • Albas claimed that Chrystia Freeland, the finance minister, had been informed of the negative effects of the government’s stimulus spending.

Previous to the House of Commons rising for summer break, the Conservative Party could not advance an urgent discussion on inflation.

Dan Albas, a Conservative MP who criticized the House Speaker for failing to hold a debate after he requested one, was not in the room to discuss and explain why it was necessary.

John Brassard, the leader of the Conservative Party in the House, requested unanimous approval for a discussion in his stead, but it was rejected.

The new information comes as Statistics Canada revealed on Wednesday that inflation reached its highest point in over 40 years in May.

Also read: NHL MVP Auston Matthews receives the Hart Trophy

According to the agency, increased gas costs were a major factor in the consumer price index (CPI), accelerating by 7.7%, the highest yearly increase since January 1983.

“Another factor in the increase was higher fees for services like hotels and restaurants. As price inflation remained constant year over year in May, the cost of food and housing remained high, according to the agency.

Before a caucus meeting on Wednesday, Brassard told reporters that the party is shifting its focus from topics that may be dealt with during the upcoming parliamentary session, like hybrid sittings, to those that, in his opinion, need immediate action.

“Inflation and affordability are the top concern. The effect this is having on Canadians, families, and companies across the nation are obvious given that inflation data this morning reached 40-year highs, he said.

Other priorities included claims of political intervention in the RCMP investigation into the mass shooting in Nova Scotia and persistent passport delays.

On Wednesday, Dan Albas remarked that Pierre Elliot Trudeau served as prime minister the last time the CPI increased at this rate.

Albas said that Finance Minister Chrystia Freeland had received a warning about the consequences of the government’s stimulus expenditure.

The attempt by conservatives to start an urgent discussion on inflation was failed.
The attempt by conservatives to start an urgent discussion on inflation was failed. Image from News leaflets

“She’s making Canadians’ life harder when the government ought to be working to make things simpler. Therefore, the Bank of Canada is under increased pressure, and the government is only to blame for this, he stated on Wednesday.

Jagmeet Singh, the leader of the NDP, also addressed inflationary worries today and put up several ideas to give Canadians their money back.

“Our proposal won’t cause inflation to rise. Redistributing the system’s windfalls is the goal. The speaker stated that we might disperse the GST windfall that the government currently enjoys due to inflation through a GST tax credit.

Singh also advocated for a $500 increase in the Canada Child Benefit.

He claimed that the party had discussed its plan with various economists and had spoken to the prime minister about it.

Freeland highlighted Liberal initiatives to lower living costs, like their new $10 per day child care agreements with the provinces, during a meeting with U.S. Treasury Secretary Janet Yellen on Monday in Toronto. She also stated that the government is dedicated to “fiscal tightening.”

Source: CTV News

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *