October 25, 1979 (31st Parliament, 1st Session)

LIB

Lloyd Axworthy

Liberal

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?

Topic:   ORAL QUESTION PERIOD
Subtopic:   INCREASE IN INTEREST RATE-EFFECT ON MORTGAGE RATE
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