Business of Supply
A Conservative opposition day motion calling on the government to cancel a proposed $25-billion sovereign wealth fund, arguing that real wealth funds are built on surpluses and resource revenues while Canada runs deficits, so the money would have to be borrowed, driving up debt costs and benefiting favoured corporations. Conservatives said the government should instead cut taxes and red tape to encourage private investment, and questioned who would run the fund. Bloc Québécois members agreed the fund is not a true sovereign wealth fund because it would be debt-financed and lacked details. Liberals defended the fund as a way to invest in a stronger economy, noting other countries have such funds and that it could benefit all regions. Some time was also taken up with a procedural notice dividing Conservative speaking slots and exchanges about pipelines.Written by AI from the debate. Updated .
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