Common sense implies there are simple fixes to big problems, and there are not
higher interest rates, more inflationPromises to ease the cost-of-living crisis, make housing more affordable, drive incomes higher, spend more on defence, and stoke energy development without undermining climate transition efforts are easier said than done.It may turn out that many of Poilievre’s ideas and proposals will indeed be effective, and produce positive change. But the big challenges run deep.
Even if Poilievre did have the capacity to somehow engineer a drop in home prices to help first-time home buyers, it’s not clear he would. It would prove extremely unpopular with the vast majority of Canadian homeowners sitting on all that equity wealth. Housing has become a big mess of a file. How will Conservatives finance their promise to increase defence spending? Will the party forego handing out tax cuts in order to avoid stoking inflation?
It’s a trade-off that will have disparate impacts. Young and indebted Canadians would welcome a bit of inflation in exchange for lower interest rates. Older Canadians are impacted more negatively by inflation and are more likely to gain from higher interest rates.
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