Treasury Minister Chrystia Freeland says there needs to be a balance between helping Canadians suffering from the effects of inflation and pursuing fiscal restraint policies. .
In an interview aired Sunday at Rosemary Barton Live, Deputy Prime Minister Freeland is ready to take further action on affordable issues. , she believes that the measures already underway — worth $ 8.9 billion — will help mitigate the impact on Canadians .
"We need to balance. One doesn't want the Canadian banking job to be more difficult than ever, so one helps Canadians with affordable challenges and the other. Is a financial restraint, "Freeland said. CBC Chief Political Correspondent Rosemary Burton.
The Bank of Canada is obliged to maintain Canada's inflation target. This is 2 percent per year (in the range 1-3 percent). Mr Freeland said she is responsible for dealing with inflation and respects the independence of banks.
In a speech earlier this month, she talked about previously announced programs about raising benefits for low-income workers, increasing other inflation-indexed bonds, and government childcare and dental programs. Insisted on implementation. 82} — Helps with affordable concerns.
Freeland reiterated her view in an interview aired on her Sunday, she said, with money from these programs already heading for Canadians.
'It's okay to get angry'
The Finance Minister acknowledged the frustration many Canadians feel, especially about rising prices for major everyday items. She said her friend sent a photo of the price at the pump and was aware that groceries were more expensive.
"And for many Canadians, it's causing real difficulties. I really understand it," she said.
Freeland made a similar tone when asked about the general anxieties that many Canadians feel about the economy .
Watch | Parliamentarians discuss how governments can move to deal with inflation. &Wednesday's politics discuss rising living costs and what Ottawa can do to provide peace of mind to Canadians.
"I say it's okay to get angry ," she said. "It's okay to get angry with me. I really understand that this is a very difficult economic situation. It's really hard for many."
The federal government has been accused of inflation from both opposition conservatives and the New Democratic Party. The Liberal Party has a Confidence and Supply Agreement with the NDP to keep minority governments participating in major votes.
Opposition to the attack
In response to Freeland's speech, Conservative Rep. Dan Albas and Gerard Deltel are the government's "taxes and spending." He issued a statement criticizing what he called. "Strategy.
" The most basic of economics that this flawed economic approach eats up the income of hard-working Canadians and spending during the inflation crisis only further boosts inflation. " Ignore the principle. Reckless abandonment has caused more inflationary pain to Canadians. "
NDP claims that companies are using inflation to increase their profits. The government imposes an "excess profit tax" on oil and gas companies and spends money on Canadians with GST / HST credits and child allowances.
Leader Jagmate Singh called Freeland's approach "absolutely insulting."
"Soft landing" is still possible
Freeland met with US Treasury Secretary Janet Yellen earlier this week. Janet Yellen recently said that the recession in the United States is not "unavoidable," but inflation is "unacceptably high."
Canada still has a way to "soft landing" and can be financially stable under the smash of the COVID-19 pandemic without the serious recession many fear. Freeland said it was sexual.
Watch | Treasury Minister Chrystia Freeland and US Treasury Minister Janet Yellen discussed rising inflation and various affordable measures through Freeland. Canada claims it hasn't planned a federal fuel tax holiday as a break from record high gas prices.
Freeland maintains a bright tone about Canada's ability to survive the uncertainty of the global economy, especially when compared to other G7 countries in . did.
She said, "The challenge isn't over, but we really believe we're going to get over this together."