NDP fighting for families in Nanaimo-Ladysmith struggling with the rising cost of living

NANAIMO– Families in Nanaimo-Ladysmith were already finding it hard to make ends meet with the high cost of housing and groceries, but last week, the Bank of Canada raised the interest rate, forcing families to pay even more interest while banks continue to make huge profits. Local NDP MP Lisa Marie Barron is urging the Liberal government to help families who are struggling.

“I’ve been hearing from people in the community who are worried about how they are going to get by as the cost of living soars. Earlier this year, the average price of a single-family home in Nanaimo reached a historic high of over one million dollars, a 32 per cent increase from January 2021,” said Barron. “It’s about time the Liberal government started looking out for families in Nanaimo-Ladysmith and across Canada who can’t make ends meet.”

While Canadians are struggling to keep up or are unable to keep up – big box stores like Walmart and Canadian Tire are making record profits. Last year, Walmart made $3.562 billion in profits while Canadian Tire made $1.261 billion in profits. Under the Liberals, the ultra-rich are thriving while Canadian families feel abandoned.

“Unlike the Liberals, New Democrats will always put families first. We know people are doing their best, working long hours or multiple jobs, and are still forced to pinch pennies,” added Barron. “People need the government to take a different approach. They can count on New Democrats to keep fighting for everyday people with real action on the housing crisis and concrete steps to make life more affordable for you and your family.”

New Democrats will continue to call on the Liberal government to address the housing crisis by building more affordable units, stopping blind bidding, imposing a foreign buyers’ tax and cracking down on speculators who are treating our housing market like a stock market. We are also urging them to close tax loopholes for big corporations and put a wealth tax on the ultra-rich in order to invest in solutions that will make life more affordable for all Canadians.