Ottawa, ON – Dan Albas, Conservative Shadow Minister for Finance, and Gérard Deltell, Conservative Shadow Minister for Innovation, Science and Industry released the following statement in response to the Deputy Prime Minister’s speech at the Empire Club:

“The Liberals’ so-called solution to the inflationary crisis that is devastating Canadians is only going to make things worse.

“Today’s speech by the Deputy Prime Minister demonstrates a fundamental lack of understanding of the causes of inflation. Canadians are in the grip of a cost-of-living crisis because of the flawed tax-and-spend approach of the Trudeau Liberals.

“This flawed economic approach eats away at the earnings of hard-working Canadians and ignores the most basic principle of economics: that spending during an inflationary crisis will only fuel inflation further. Yet, the Liberals continue down this path with reckless abandon, inflicting more inflationary pain on Canadians.

“Worse, the new spending fails to recognize that people need immediate relief from the cost-of-living crisis Canadians are facing. Canadians are struggling right now. They’re struggling to fill up their tank, with prices over $2.00/litre across the country. They’re struggling to feed their families, as prices have jumped by nearly 10 per cent this year. They’re struggling to afford the roof over their heads, with the cost of rent skyrocketing, and the price of a home jumping by 20 per cent this year.

“And yet, the Liberals continue to blame global factors for inflation and refuse to provide the immediate relief to the cost-of-living crisis that Canadians need. Rather, they re-announce policies that won’t take effect until the fall, as Canadians are left to suffer throughout the summer. Conservatives know that Canadians are falling behind and need help now.

“Canadians deserve a government that will defend them from the cost-of-living crisis, and take real action to lower inflation and make life more affordable. Unfortunately, Justin Trudeau doesn’t think about monetary policy and believes that budgets balance themselves. With his partners in the NDP, he continues down a tax-and-spend agenda that will continue to fuel the inflationary crisis.

“Conservatives will continue to propose common-sense solutions that leave more money in the pockets of Canadians, support the economy, and lower inflation. While the NDP-Liberals continue to ignore the cost-of-living crisis, we will be the voice for Canadians that are struggling.”