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Results: 91 - 105 of 380
Soren Halverson
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Soren Halverson
2020-12-08 17:48
What I have in front of me.... I don't have the growth in debt. I have the gross issuance. Is that of value to you informationally?
View Pierre Poilievre Profile
CPC (ON)
The growth in the debt of the Government of Canada is what I'm looking for.
Mr. Soren Halverson: Okay.
Hon. Pierre Poilievre: The published deficit is $380 billion. Would it be fair to say that it's $380 billion?
Nicholas Leswick
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Nicholas Leswick
2020-12-08 17:48
I'm sorry, Mr. Chair. I think what we're searching for....
Thank you to the member for the question. I think what we're trying to zero in on is what you would like to use, Mr. Member, as the definition of debt—
View Pierre Poilievre Profile
CPC (ON)
It's the growth of the federal debt.
Nicholas Leswick
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Nicholas Leswick
2020-12-08 17:48
On an accumulated deficit basis, it's exactly as you said. It's the value of the deficit, which is $387 billion—
View Kelly McCauley Profile
CPC (AB)
Thanks.
Just for the record, I'll correct Mr. Kusmierczyk's stats. Between 2006 and the Liberals' taking of power, the public service stayed at about the same amount, whereas the previous Liberal government actually cut 14% of the public service.
Mr. Giroux, I want to ask you a question. The finance minister commented in her update that we're locking in low rates by issuing more debt in longer-term instruments. I'm looking at the Bank of Canada website and I see a massive amount of short-term treasury bills being issued, but very little long-term debt.
I'm wondering whether you could comment on that. Are we actually issuing a lot more long-term debt, locking in these low rates?
Yves Giroux
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Yves Giroux
2020-12-02 17:39
We are issuing more long-term debt, but not that much more. We can argue about the reasons—whether the government has done the maximum or could do even more—but the issue with long-term maturities is that there's only limited demand for that.
If the government tries to issue all of its debt as 30-year bond maturities, it will probably have to pay significantly higher interest rates, because there's limited demand for these very long maturities. That may explain why the government has not issued only 30-year bonds but has instead gone, for still a majority of its financing, through shorter-term bonds.
View Kelly McCauley Profile
CPC (AB)
What is our total projected debt when you add the debt owed by our Crown corporations? That's generally not added to the $1.1 trillion being bandied about. Then, if you add pension liabilities and everything else....
Yves Giroux
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Yves Giroux
2020-12-02 17:42
The government has updated its debt-management strategy as part of the fall economic statement. They're looking for amendments to the Borrowing Authority Act, pushing the limit, proposing a maximum borrowing amount of $1.8 trillion, if I'm not mistaken: $1,831 billion.
View Tamara Jansen Profile
CPC (BC)
Thank you.
Mr. Macklem, you briefed us by saying “the Governing Council agreed that extraordinary monetary policy support will continue to be needed.” I'm wondering if I understand you correctly. Are you saying that you need to keep buying government debt, basically printing money, for Canada to remain solvent?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:50
No, that's not what we're saying at all. What we're saying is that our inflation target is well below the target. The Canadian economy is weak. There are still more than 600,000 Canadians who've lost their jobs and haven't got them back. That's putting downward pressure on inflation. Against that background, we need a lot of monetary stimulus, extraordinary monetary stimulus, to support the recovery and get Canadians back to work and inflation back to target.
View Tamara Jansen Profile
CPC (BC)
What you're saying is that you would not have to continue that. We could remain solvent without it. Is that what you're saying?
Tiff Macklem
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Tiff Macklem
2020-11-26 15:51
That is what I'm saying. We are not financing the government. Our actions, by lowering interest rates and by buying government bonds, are lowering the cost of financing the government. In fact, they're lowering the cost of borrowing for everybody.
Tiff Macklem
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Tiff Macklem
2020-11-26 15:51
We're not financing the government.
View Tamara Jansen Profile
CPC (BC)
The level of aggressiveness the Bank of Canada takes on future economic distresses will be the most significant economic events of the next decade. Can you commit to stop purchasing government debt once the inflation rate reaches your 2% target, yes or no?
Results: 91 - 105 of 380 | Page: 7 of 26

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