Ottawa, ON – Dan Albas, Conservative Shadow Minister for Finance, and Gérard Deltell, Conservative Shadow Minister for Innovation, Science and Industry, released the following statement after July’s inflation reached 7.6 per cent:

“Today’s Consumer Price Index report confirms what Canadians are already feeling – that the dollars in their pockets aren’t going as far as they used to.

“With inflation remaining at levels not seen since the 1980s – Canadians are struggling to afford basic essentials. Yet, rather than controlling spending and lowering inflationary pressures, the Liberals remain committed to their tax and spend agenda and continue to reject any attempt to provide cost-of-living relief.

“Facing stubbornly high inflation, rising interest rates, and a worsening labour market, Canadian families are increasingly worried about a Liberal-made recession on the horizon.

“The runway for a soft-landing to steer Canada’s economy clear of a recession is getting shorter and shorter. Unfortunately, the Liberals and their NDP allies have rejected Conservative proposals to reduce inflationary pressure by getting their reckless government spending under control.

“Instead, the Liberals and their NDP partners seem to be out-of-touch with the cost-of-living crisis Canadians are facing. As a result of their failure to control spending and provide cost-of-living relief, Canada appears poised to face a significant economic downturn.

“Canadians deserve a government that will fight the cost-of-living crisis and make life more affordable. That is why Conservatives will continue to propose common-sense ideas, like suspending the GST on gasoline and diesel.

“Conservatives will continue to fight to leave more money in the pockets of hard-working Canadians, protect the value of the money that they earn, and end the government’s inflation-fueling reckless spending.”