NDP: Latest interest rate hike demands action on affordability

REGINA - Today, the Bank of Canada announced the largest single interest rate increase since 1998, adding more pressure to already cash-strapped Saskatchewan families. Official Opposition Leader Carla Beck called on Premier Scott Moe to act on the crushing cost of living and provide immediate affordability relief to Saskatchewan people.

“Politicians can’t help with interest rates, but they can help with affordability relief,” said Beck. “Hiking utility fees and taxes while sitting on a billion dollars of unexpected resource revenues - all as insurance, gas and groceries go up - is wrong.”

The Bank hiked its key interest rate a full percentage point in response to continued inflationary pressures on the economy. The Sask. Party government has yet to signal that a serious affordability relief package is on its way to families.

“Though a necessary move by the Bank of Canada, housing affordability and the cost-of-living concerns remain. I think of the countless young people hoping to buy their first home and start a family,” said Beck. “Scott Moe needs to get back to work for the people of Saskatchewan.”

The Official Opposition calls on the government to immediately respond to the cost-of-living crisis with a meaningful affordability relief package.

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