Quebec City – Conservative House Leader Andrew Scheer has emphasized that a Conservative government led by Pierre Poilievre will prioritize balancing the budget, eliminating the deficit, and reducing interest rates. However, Scheer refrained from specifying a timeline for achieving these objectives.
In an interview with CTV’s Question Period host Vassy Kapelos, Scheer attributed Canada’s 22-year-record high interest rates to Prime Minister Justin Trudeau’s government. He argued that Trudeau’s spending had driven up inflation and, subsequently, interest rates. Nevertheless, Scheer did not commit to a specific date by which a Poilievre-led government would eliminate the deficit and lower interest rates. He stated, “Pierre Poilievre’s common-sense plan to reduce inflationary deficits will ease the pressure on inflation, and therefore interest rates can come down.”
Scheer’s interview took place during the Conservative convention in Quebec City, just before Pierre Poilievre’s speech, marking his first convention appearance since becoming the party’s leader nearly a year ago.
In his address, Poilievre also criticized Trudeau’s economic record, highlighting the challenges of an economy where the builders of homes cannot afford to live in them. Scheer echoed these sentiments, emphasizing that the Conservative plan, led by Pierre Poilievre, is designed to combat inflation and lower interest rates to enable people to remain in their homes.
While Scheer affirmed the Conservative intention to return to balanced budgets, he refrained from specifying a timeline. The ongoing confidence-and-supply agreement between the Liberals and the NDP, which keeps the Liberal government in power in exchange for progressive policy commitments, is expected to delay the next federal election until 2025.
Scheer did indicate that the Conservative Party has identified areas where the Liberal government has wasted money, suggesting that these areas would be the focus of cost-cutting measures. Specifically, he mentioned plans to eliminate the Canada Infrastructure Bank and the Asian Infrastructure Bank. Scheer criticized the former for not fulfilling its mandate and the latter for supporting the Chinese government’s expansion of influence.
Housing affordability, a central theme in Poilievre’s messaging during the summer, has resonated with Canadians. Recent Nanos Research polling indicated that the Conservative Party is the most trusted to address the issue of soaring housing costs.
Scheer affirmed the Conservatives’ commitment to building more homes, citing plans to incentivize municipalities to expedite approval processes and penalize those causing delays. Poilievre has also pledged to convert thousands of federal buildings into housing. However, when asked if the Conservatives, under Poilievre, would commit to building 3.5 million new homes by 2030 to align with the Canada Mortgage and Housing Corporation’s (CMHC) report, Scheer did not provide a direct response. He emphasized the goal of dramatically increasing the number of homes built to accommodate population growth but did not specify a precise target.