May 7, 1974 (29th Parliament, 2nd Session)


Pierre Elliott Trudeau (Prime Minister)


Mr. Trudeau:

Mr. Speaker, that was an attack on inflation. It is an attack increasingly understood by farmers, by fishermen, by consumers and by producers. Very recently, even small businessmen across Canada who for a time had embraced price and wage controls reversed their opinion and stated that they were against price and wage controls. They dislike wage and price controls because they have seen the shortages that develop as a result of controls and because they know they will have to pay an inflated price for the materials in short supply. They have observed the experience of Great Britain and the United States and have said to the Leader of the Opposition, "No thanks. Not for us".
It is true that our attack on inflation is not a simple one. It is a complex one. It is a complex solution to a complex problem. We certainly reject the simple, and perhaps simple-minded, approach that has been brought to bear by the opposition on this question. These Tory controls would control the wages of the workingman. Prices have already risen very high, and controls will not bring them down. If you freeze high prices, there are still high prices; but if you freeze wages, there are still low wages.

Subtopic:   THE BUDGET
Full View