A day after the Bank of Canada raised its benchmark interest rate to 4.75 per cent, inflation and spending continued to be hot topics during question period in the House of Commons on Thursday. North Umberland-Peterborough South MP Philip Lawrence rose to say “We know deficits lead to inflation, inflation leads to interest hikes and interest hikes lead to mortgage defaults. How many Canadians will lose their homes before this prime minister learns his lesson?” Government House Leader Mark Holland responded: “Yesterday, Mr. Speaker the member opposite said that Ireland was the place to be. We love this country while they idolize others,” bellowed Holland to the raucous cheers from the Liberal gallery. Lawrence retorted “I must have misheard because he said he admired Canada – I heard the prime minister say he admired the basic dictatorship of China.”