“The people elected us because they were scared. Now we get to pick winners and losers with a big pot of money.”
What they said. What they meant.
Plain-language translations from the House of Commons.
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Business of Supply
A debate on the government's proposal for a 'Canada Strong' sovereign wealth fund, which the opposition argues is not a real sovereign wealth fund since the government has no budget surplus to fund it with. The Conservatives and Bloc both criticized it heavily as expensive, based on debt not surplus, and likely to distort markets by having government pick winners and losers. The Liberals defended it as far-sighted leadership investing in Canadian growth and potential.
“I want to cheer for this program. We had war bonds before. This is like that. People can invest in the government program. It is good for prosperity and growth.”
“I'm filling time by claiming good news and repeating talking points. Our expensive new fund will make the government look good and reward its friends. I hope Canadians will feel included.”
“I want to create a new government fund. This fund will take money from taxpayers and put it into projects that the government thinks are good. The government will then say that these projects are making money for everyone.”
“We should copy other countries and provinces that have sovereign wealth funds. I think Canada should have made a fund like this 30 years ago. I'm glad we're doing it now. It will be good for everyone.”
“The government wants to do a lot of things to make the economy stronger. We want to be the best in the G7. We will use funds and attract investment to make Canada strong for everyone.”
“We want to make it easier for businesses to invest in Canada. We will remove barriers and give them tax credits and deductions. This will help the economy and Canadians will benefit.”
“I want Canadians to be able to invest. The government will help them invest. I bought savings bonds as a kid. I think it worked well. I think people should do the same thing now.”
“Don't worry, the wealth fund will be independent! It will get Canadians a good return. I want the government to invest more of your money. There are other countries that have sovereign wealth funds and I think they're a good idea.”
“IMF says Canada has strong fiscal position. We want Canadians to benefit from generational wealth.”
“There is nothing wrong with the government borrowing more money to invest in these projects. Many other countries do it. The Bloc and Conservatives should not oppose this.”
“The other parties don't understand what they're talking about. Having a sovereign wealth fund is good leadership; those other things we already have are completely different. I don't know why anyone in Canada would say no to copying what other countries do. Let's spend money to make the economy stronger.”
“We want the government to do more. More exports, more trade, more investment, more funds, more jobs. I ask the other side why they want to do less.”
“I want to change the subject. I want you to think about election results instead. I want you to feel good about my party winning.”
“You talked down our new fund. But other countries have similar funds. Those funds worked well in other countries. Why do you think this fund will be unsuccessful? I want you to explain why you don't like it.”
“I'm going to talk a lot but not actually say much. The other party is bad. Our party is good. People voted for us so we must be right. The other guy just criticizes and attacks people's character. We're trying to help Canadians, mostly by spending their money on programs. The other guy doesn't know what he's talking about. Our leader is so great, like Wayne Gretzky or Céline Dion. We made some announcements about projects and funds. The other party didn't build pipelines, but we signed an MOU.”
“I'm filling time with kind words and saying nothing anyone could pin down later.”
“I will stand by my word. Our government knows best. Conservatives just get out of the way, but we know better. We will tax and spend and build big projects to make people's lives better. Conservatives don't understand how government works. They just repeat talking points and spin. But we are doing what's best for Canada. We're expanding the economy and helping with affordability. If Conservatives would just listen to Canadians instead of their own best interests, they might do better. Their leader might be more secure.”
“I want to correct the record: the Conservatives didn't build a pipeline to tidewater, we did. We also invested in LNG with the other government that wasn't them. They're very mean and talk a lot without actually doing anything.”
“All parts of Canada have big projects. The port in Montreal is a big project. Montreal is in Quebec. The nuclear project is in Ontario. Pipelines are in Alberta. The port of Churchill is in Manitoba. Energy transmission lines are in Atlantic Canada. Copper mines and LNG are in B.C. Don't say false things.”