Interest rates rise again | Dec 7, 2022
Today, for the seventh time this year, the Bank of Canada hiked interest rates with another oversized 0.5% hike, bringing rates to 4.25%. 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.
The Auditor General yesterday confirmed what Conservatives have been warning about since 2020 – wasteful spending due to lack of controls led to at least $32 billion in overpayments and suspicious payments. Scotiabank has estimated that 1.25%, nearly 30%, of these punishing hikes are directly a result of COVID spending. Justin Trudeau’s inflationary and wasteful spending has created a cost-of- living crisis that is pushing many Canadians over the edge.
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.
Are the people in Windsor and Tecumseh ready for a change yet?le.