December 18, 1957 (23rd Parliament, 1st Session)


Stanley Howard Knowles (Whip of the Co-operative Commonwealth Federation)

Co-operative Commonwealth Federation (C.C.F.)

Mr. Knowles (Winnipeg North Centre):

have one question I would like to ask the minister, but before I do so I would like to make a very brief comment on an argument he used just before six o'clock. He said that to reduce the interest rate now would be unfair to those who have taken out mortgages at the present interest rate. I am sure that is an argument which the minister would just as soon not have on the record because that argument against the lowering of the interest rate could be applied to the lowering of the down payment which is to be the effect of the clause we are now discussing.
I am sure he does not take the position that it is unfair to those who had to put up a higher down payment that we should now be proposing to lower the down payment, and I am sure he does not take the position that for all time the interest rate on housing mortgages must either stay where it is or go up.

Topic:   IS, 1S57
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