Mr. Lloyd Axworthy (Winnipeg-Fort Garry):
Mr. Speaker, my question is also for the Minister of Finance. On October 18, 1978, as reported at page 238 of Hansard, when in opposition the minister said:
These people are being crucified with an II Vi per cent mortgage rate-
Would the minister make the judgment now that, as a result of his policies and his government's policies we have the mortgage rate going up to 14>/2 per cent, the people of Canada are not being crucified but are being drawn and quartered by an unmerciful government that no longer has a care for those ordinary people? Does he realize the housing industry is in severe recession; building starts are down 30 per cent?
Subtopic: INCREASE IN INTEREST RATE-EFFECT ON MORTGAGE RATE