One of my favourite things about summer is having more time to spend in my riding of Kitchener-Conestoga, the best riding in the country! I enjoy attending as many community events as I can and enjoying the beautiful countryside in the rural areas of our Region.
One of the biggest concerns I’ve been hearing about recently is affordability. Almost half of all Canadian households report being less than $200 a month away from insolvency at month’s end.
Gasoline. Groceries. Real estate. Debt. It seems like everything keeps getting more expensive, but earnings aren’t keeping up. After 10 years of steady wage growth under the previous Conservative government, including a 12% average wage increase for women, earnings across Canada have stagnated since Trudeau was elected in 2015.
In 2015, Justin Trudeau inherited from the previous Conservative government, a balanced budget, a growing economy, and a middle class that had enjoyed the largest increase in median income in 40 years. The previous Conservative government led Canada through the global recession with the smallest debt and deficit and best growth of any G7 nation. And we emerged with one million new jobs. We also had the best median income growth on record.
We did that despite the biggest global financial crisis since the great depression, an oil price crash, and an unprecedented crisis in the U.S. housing market. Trudeau inherited three major pipeline projects with booming world and U.S. economies and recovering global oil prices.
By the end of this year, the Liberal government will have added $71 billion to the national debt with little to show for it. The cost of servicing that debt will rise 40% to $34 billion in just a few years, almost the same as the federal government spends on health care. So the next time a Liberal tries to scare you with supposed Conservative spending cuts – and you can mark my words, they will – just remind them of the track they’ve put us on. Runaway deficits, with no plan to balance, can only mean one of two things: a future tax increase or future spending cuts.
Canada must be a place where no ambition is too big, where no dream is out of reach, and where no government will stand in the way of people working hard to get ahead. This is the Canada I want for my children and my grandchildren, and this is the Canada that I want for each of the residents in the riding of Kitchener-Conestoga.
Every day I consider it a privilege to represent you in Ottawa. Thank you for the honour of serving our community.
Harold Albrecht, MP