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This year, Canada will spend $46.5 billion to service the debt. This is more money than the government is sending the provinces for health care.
Both the Bank of Canada and former Liberal Finance Minister, John Manley, told Justin Trudeau that he was pressing on the inflationary gas pedal with his spending that ballooned interest rates.
Struggling families can’t afford higher taxes and more inflationary spending that drives up the cost of everything and keeps interest rates high.
That is why Common Sense Conservatives sent a letter to the Prime Minister with three demands to fix the budget, including to cap the spending with a dollar-for-dollar rule to bring down interest rates and inflation. The government must find a dollar in savings for every new dollar of spending.
Consult the Official Hansard transcript.