Inflation is still too high in Canada says Deputy PM Chrystia Freeland in Mississauga

As we slowly emerge from a global pandemic, Canada still has many challenges ahead when it comes to the economy.

“A lot of Canadians are really struggling to put food on the table and inflation is one of our country’s principal challenges right now,” said Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland while in Mississauga today (March 8).

Freeland spoke to reporters after she toured the International Brotherhood of Electrical Workers Local 353 Training Centre in Mississauga.

Freeland said the visit was part of her pre-budget consultations to hear from some of the working people who are at the centre of the economy.

One of the things she heard from workers is not to “pour fuel on the flames of inflation.”

“I think we all want to get past this as quickly as we can,” she said. “So fiscal responsibility is really important.”

She emphasized “fiscal constraint” at time when the Canadian economy is slowing down in response to global conditions and in response to high interest rates.

Canadians are facing tough times.

“Inflation is still too high,” she said. “And interest rates are really high and have gone up extremely fast. These are real challenges for Canadians. I hear about them from people every single day.”

As grocery CEOs speak to a parliamentary committee today, Freeland said she hopes they will work to get prices down and be transparent about why those prices are so high.

But she added Canada is well-positioned to deal with upcoming “bumps in the road.”

The President of the European Commission Ursula von der Leyen spoke to parliament on March 7 and talked about the things Europe wants to buy from Canada, said Freeland.

“That to me is further evidence we have some tremendous opportunities ahead of us.”

As it was International Women’s Day, Freeland gave a special shout out to the female electrical workers she met on the tour.

“I really want to thank the women who I had the chance to speak to and do some wiring with today, for the work you’re doing,” she said. “And for the really important example, that you are setting for women and girls, across Ontario, and across Canada.”

Freeland’s complete remarks can be heard here.