The House asks the government to stop its plan to create a $25 billion fund using borrowed money, because it will cause inflation and benefit political insiders instead of helping regular Canadians.
What They Voted On
That, given that, (i) sovereign wealth funds must have wealth that comes from budget surpluses and resource revenues, (ii) this government has run no surpluses, only deficits for the last 11 years and has no funds to invest, (iii) the Prime Minister is proposing to put his 25-billion-dollar fund on the national credit card, which will cause further inflationary pressure, (iv) the Prime Minister has already created 12 new Crown corporations, agencies and bureaucracies, (v) when government directs capital, it always goes to the politically powerful and not the deserving, (vi) there is over 1 trillion dollars in pension fund money that Liberals have pushed out of Canada that we could bring back with faster permits, lower taxes and free enterprise, (vii) the rising cost of fuel and food is already burdening hard working Canadians who cannot afford to pay more for handouts to Liberal insiders and corporate elites, therefore, the House call on the government to abandon this sovereign debt fund.
What This Vote Is Really About
This vote is about whether the government should create a $25 billion fund using borrowed money. The money would be used to invest in different projects. Those who oppose the fund say the government doesn't have extra money to invest because it has been borrowing money for years. They also worry that the government will use the fund to help its friends instead of investing in good projects. They suggest that instead of creating this fund, the government should focus on making it easier for pension funds to invest in Canada. If the House votes in favour of this motion, it's a message to the government to stop planning this investment fund. This could mean less government involvement in directing where money goes in the economy. Citizens should care because it affects how their tax dollars are spent and who benefits from government investments.
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