Discussion · Government Orders
Xavier Barsalou-Duval Bloc Québécois
“Canada should not create a sovereign wealth fund using borrowed money. Other countries only do this when they have extra money.”
“Mr. Speaker, the parliamentary secretary’s argument is essentially that we should have a sovereign wealth fund here because other countries also have sovereign wealth funds. However, what he is forgetting is that those other countries use surpluses instead of debt to build up their sovereign wealth funds. It is a bit like if I were to buy a house that costs three times the price I can afford. Let us say I buy a house for $10 million and I make $50,000 a year, because I wanted to be like my neighbour, who makes $300,000 a year. Does it make sense to do something I cannot afford to do simply because my neighbour did it?”
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Question or comment in debate
Signal 36 of 100
Much of this statement went to praise, blame, greetings, routine procedure or general stories rather than reasons, requests or specific points.
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Mr. Speaker, the parliamentary secretary’s argument is essentially that we should have a sovereign wealth fund here because other countries also have sovereign wealth funds. However, what he is forgetting is that those other countries use surpluses instead of debt to build up their sovereign wealth funds. It is a bit like if I were to buy a house that costs three times the price I can afford. Let us say I buy a house for $10 million and I make $50,000 a year, because I wanted to be like my neighbour, who makes $300,000 a year. Does it make sense to do something I cannot afford to do simply because my neighbour did it?