Discussion · Government Orders
Steven Bonk Conservative
“The government changed how it tracks its debt limits. Canada is the only G7 country that leaves out provincial debt from this math. I want to know what Canada's true debt number would be if we counted it like other countries do.”
“Mr. Speaker, we have seen the government, midway through its term, change the definitions of its fiscal anchors. Instead of debt-to-GDP ratio, it is debt-to-deficit ratio. One thing that I want to get a clear answer on from the member opposite is that, in the G7, Canada is the only country that does not count subnational debt when it is talking about debt-to-GDP ratios. What would the number be if Canada used the same accounting practices as all other countries?”
Official Hansard
Mr. Speaker, we have seen the government, midway through its term, change the definitions of its fiscal anchors. Instead of debt-to-GDP ratio, it is debt-to-deficit ratio. One thing that I want to get a clear answer on from the member opposite is that, in the G7, Canada is the only country that does not count subnational debt when it is talking about debt-to-GDP ratios. What would the number be if Canada used the same accounting practices as all other countries?