Finance Minister Chrystia Freeland said Monday that ensuring Russia loses the war against Ukraine is part of Canada’s plan to deal with high inflation.
“I believe that an important part of Canada’s fight against inflation is to help Ukraine and ensure that Ukraine wins its war against President Putin,” Freeland told the House Finance Committee. said.
“I think everyone understands that Vladimir Putin’s war in Ukraine is the main cause of the high energy prices.”
Freeland was testifying about Bill C-30, the liberal government’s plan to provide GST reimbursement for some Canadians to help with living expenses.
Her comments about Ukraine were led by Liberal MP Ivan Baker, who used her question time in the committee to plead on behalf of the country, and Freeland made her statement to “the Ukrainian people fighting Russia’s war of genocide.” I came after thanking you for your support.
Baker, who has a business background, said he believed war was the “main reason” for rising food and fuel prices.
“So the Ukrainians are not just fighting for themselves, they are fighting for us,” Baker said.
“In my view, Ukraine needs to win the war decisively if it wants to stop inflation,” he said. He said this meant Russia would recapture Crimea, which it had annexed in 2014, and the now-disputed Donbass.
“Putin price hike”
This idea that Putin is responsible for inflation is also shared by the Biden administration south of the border.
He called the Russian aggression “the single biggest factor in inflation” and used the phrase “Putin’s inflation” to deal with rising prices.
oil price It rose steadily from spring 2020, spiked after the invasion, but has been declining since late spring 2022.
“This is not a war in Ukraine. It’s actually caused supply-side constraints domestically,” Ross McKittrick, an economics professor at the University of Guelph in Ontario, previously told the Epoch Times. Told.
Inflation, as measured by the consumer price index, was already entrenched before February 24, when Russia invaded.Statistics Canada I got it On February 16, January shelter costs rose at the fastest pace since 1990.
While noting that Ukraine’s victory in the war was important in dealing with inflation, Freeland also acknowledged that policies implemented by the government during the pandemic played a role in creating inflation.
“Even without Vladimir Putin’s illegal and barbaric invasion of Ukraine, recovery from the COVID recession will be difficult. did the same thing,” Freeland said.
“And we also did the unprecedented thing of providing an economical backstop, so it never went smoothly.”