Food inflation and interest rate hikes are making affordability even worse as winter approaches
A new report came out last week on food prices in Canada. The average household will pay an additional $1,065 in 2023. That’s on top of food inflation of 10% we’ve seen in 2022.
Also last week, the Bank of Canada hiked the interest rate for the seventh consecutive time. The Bank did this to combat inflation – which has been exacerbated, in the bank’s opinion, by all the inflationary spending and deficits of the Trudeau government. Just last week the Auditor-General found another $32 Billion in waste of our tax dollars – including cheques sent to prisoners and dead people!
The report also noted that the typical farm will pay $150,000 in carbon tax next year when the carbon tax is tripled – further driving up food costs!
Meanwhile, home heating is the other essential household expense.
As a result of taxes and inflation, home heating costs have doubled. What’s worse is that some don’t have the option of more economical natural gas or other types of heat. Propane and oil heat 10% of rural Ontario homes, including many in Flamborough and Glanbrook.
Conservatives put forward a motion in October to give Canadians break on home heating taxes – as the Premiers of Newfoundland and Nova Scotia had asked. Unfortunately, the Liberals and NDP defeated that motion.
Last week we put forward another motion to cancel the carbon tax applied to all food inputs and production. This is driving up grocery prices. Canadians need a break now. This was an immediate way to help alleviate food inflation and help our farmers who produce our food. Yet again the Liberals and NDP defeated it.
Canadians need a break now – especially with winter upon us.