Bill C-230

An Act to amend the Financial Administration Act and to make consequential amendments to other Acts (debt forgiveness registry)

This enactment amends the Financial Administration Act to require that the President of the Treasury Board establish and maintain a public registry of large debts and obligations owed by certain entities to His Majesty, as well as claims by His Majesty against such entities, that have been remitted, forgiven, written off or waived. It also makes consequential amendments to other Acts.

Financial Administration Act

[Adam Chambers, Conservative, Simcoe North, ON]

moved that the bill be read the third time and passed.

Mr. Speaker, it is an absolute honour to be here tonight with all of my friends from all sides of the House. It is an important day for taxpayers. It is an important day when one is a member of Parliament and has the honour and the opportunity to bring forward legislation that makes amendments to the statutes of Canada.

It is a lottery system. I was lucky enough to be given the opportunity to be chosen early in that lottery. I wanted to pick an idea that I believed would have widespread support in the chamber. I would like to thank all of my colleagues from all sides of the House in getting the bill to this stage, which included sending the bill to committee, a lengthy committee study, some thoughtful amendments from all parties at the committee table and bringing it back to the House. It is my hope and sincere pleasure to see this bill carry forward here this evening.

I want to thank individual members, and I will return to this later. To put aside the partisan politics, we tangle in the chamber from time to time on some very controversial issues but, with respect to greater transparency for taxpayers, this is an issue that I think we will see unites all members of the chamber, no matter their political affiliation.

Bill C-230 would create a registry for the government to disclose every time it writes off a large debt. For corporations, not individual taxpayers, that have their debts waived, those amounts and the identities of those corporations would be published in a corporate registry. That would enhance the level of transparency that taxpayers receive from our tax-collecting authorities.

This bill is here before our chamber because we noticed in the public accounts large amounts, year after year, being written off. Members of Parliament from multiple parties, including the government side, probed the government for additional information. We were met with not great answers, a lack of transparency, and a suggestion that we, as parliamentarians, could not receive this information because of the privacy provisions of the Income Tax Act.

Given the opportunity, in drawing that high lottery number to bring forward a private member's bill, I thought that we should change the law, change the privacy provisions in the Income Tax Act and require the government to disclose this information. After all, I think it is a matter of public interest when large debts that are owed by corporations are written off by the government. In fact, just a few years ago, 10 corporations had a total of $1.1 billion written off.

A lot of people work hard every day. They pay their taxes honestly. They fret about filing their taxes on time and they worry that they might have made a mistake. They do so honestly and in good faith, because they know that paying taxes helps pay for this wonderful, beautiful country that we have and all the social services that we all enjoy.

They are frustrated because they learn that, while they are working hard to pay their taxes, the government is unable to collect millions and indeed billions of dollars each year that corporations owe the government. That is the real basis for this idea that has come to the floor of the House and was proposed as a private member's bill.

I would say that I learned my lesson in the last Parliament. I believed that I had a wonderful idea to increase the penalties for money-laundering offences, but I did not have as much time to work with all members of the chamber to make sure that it was in a position to receive broad-based support and pass.

This time, I wanted to do my homework. I consulted with my own team, my own colleagues, who encouraged me to continue. I consulted with members from other parties who thought it was a good idea, and so here we are. I appreciate the opportunity to address this very important issue. I appreciate the opportunity my colleagues have given me to recommend this bill that made it to committee and, as I said, had some thoughtful amendments along the way.

There was an amendment at committee about the threshold. The committee recommended increasing the threshold from $1 million to $2 million. While I do not believe we are at an ideal state, I think that in this environment, we can hold out for the perfect and get nothing, or we can make some compromises so that we can all have some level of say and influence over a bill and actually make progress on behalf of taxpayers. I am happy with where we landed, although I would have preferred to keep a lower threshold. In fact, some members on the committee wanted the threshold to be as low as $100,000. We have landed on an opportunity to start this registry in a way that would give taxpayers more transparency about how their money is being collected and used.

I would like to commend the work of Senator Percy Downe in the Senate. He not only has been encouraging me along the way but also has his own bill that would also increase transparency requirements at the CRA. It has passed three times from the Senate and will come to this chamber later next month before we break for the summer. This issue and these two bills go hand in hand. This chamber will have time to opine on Senator Downe's bill at a later date.

I think it is important to consider the process. I mentioned we saw the public accounts. We saw amounts going up. We asked for more information. We then submitted an Order Paper question. That question was not answered in the House and it was not answered at committee, but a friend in the other place, Senator Wells, was kind enough to submit a similar question, a more detailed question. From those answers was the genesis and the basis on which we designed this bill, because it outlined the number of corporations and the amounts that had been written off.

That is the way the process worked in order to get this bill. It was hard research, asking questions, collaboration and really an opportunity for us to use all of the tools in this chamber in order to find out more information and then propose a law to fix it for the benefit of taxpayers and indeed the country.

It is my great honour that I am standing here tonight with this opportunity to propose a change to the statutes of this country. When elected, as I mentioned before, many people could be here for years, indeed decades, and not have the opportunity because it is a lottery system. I took that opportunity very seriously. I wanted to put something forward I thought would have widespread support from all members in this chamber.

I cannot help but recognize that in the new environment we are in, with respect to the government now controlling a majority of the seats in this chamber, I have still felt good co-operation and collaboration from members of the government, including the parliamentary secretary and the House leadership team, in order to advance what I believe is a good piece of legislation that would make a positive contribution to public policy in this country.

I believe it is time that taxpayers have more transparency. We need to hold not just the government accountable, which I find to be an important part of my role here as an opposition member, but also the agencies that the government entrusts to carry out fundamental activities.

The Canada Revenue Agency's primary objective is to enforce the Income Tax Act and collect the monies owing to government. This bill would bring a level of transparency and accountability to those activities at the Canada Revenue Agency so that all members of Parliament from all parties, and indeed all Canadians, would have a greater line of sight and transparency into the activities of the Canada Revenue Agency.

We have to acknowledge that the agents and the employees of the Canada Revenue Agency, by and large, work very hard day in and day out to complete their duties. I will say, at the same time, that I think they have been unfairly burdened with additional activities and requests from the government that have asked them to do things that are far outside their core mandate. The bill would also help refocus resources at the Canada Revenue Agency so it can get back to fulfilling the objectives of its core mandate.

It would be inappropriate for me at this time to not recognize some individuals who helped me along the way.

I have to pay special tribute to our legislative drafters, who fielded many late-night questions and phone calls outside business hours because they were helping me get the bill into good shape before it had to be tabled in September: Marie-Claude Hébert and Marie Danik. They did fantastic work.

I do not think people understand that while many government ministers and departments have armies of lawyers at their service, members of Parliament also have wonderful resources that are able to support us in our role. Those resources are quite small in number, but they pack a mighty punch and have been very busy supplying members of the chamber with great ideas and legislative work on private members' bills that members introduce on a daily basis. That is done by a very capable and thoughtful team in the House of Commons.

The member for Calgary Midnapore has been fantastic to work with as our shadow critic. The member for Louis-Saint-Laurent—Akiawenhrahk has been our shadow critic for CRA. The member for Calgary Rocky Ridge, who originally turned me on to this idea a few years ago, deserves a great round of applause because he has been an advocate for greater transparency at the CRA.

I mentioned the parliamentary secretary earlier. Although we have tangled many times on the finance committee, and I was actually moved off that committee, maybe because of those tangles, we did find a way to work well together. I joke, but we do end up working on things in collaboration that we think will enhance this country and do great things for taxpayers.

The Minister of Finance, for whom I also have many criticisms, was very gracious to set me up with his staff to work on the bill. We did receive some amendments, as I said, and I worked with them. I also very much appreciated Sean-Matthew O'Neill for his help during this process.

Another individual I would like to thank is Jay Gamma, from Edmonton, who has been on this idea as well. He has been talking about it for a couple of years.

I would be remiss if I did not pay tribute to the late Jim Flaherty, who was a close mentor of mine. I am wearing green today in his honour. If it were not for him, I would not be standing in this place.

I appreciate the opportunity to have the bill voted on. We will see where it goes tonight. I want to thank everyone in the chamber for their support and collaboration in doing something good, which I believe is in the public interest and in the best interests of the citizens of this country.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, I applaud the member for his general approach in dealing with Bill C-230. He has identified an issue that has been a priority for the government, and he has put forward something, working in a collaborative fashion. Some changes were made at the committee stage. He might have like to have added a little more value from his perspective, but he put forward the idea of working in collaboration delivers for Canadians, and I applaud him for taking that initiative.

This is more of a comment than a question: Hopefully we will see more collaboration on private members' bills and government bills in general for the benefit of all Canadians.

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, I certainly appreciate the comment from my hon. colleague, who is no stranger to standing up and speaking in the House. I appreciate that he took the time not just to meet with me about my bill but also to discuss an opportunity where we could maybe have it proceed. This is an example for all of us, that when we have an idea that is good for the country and has widespread support, we could toss aside some of the partisanship from time to time and work in the best interests of all Canadians.

[Pat Kelly, Conservative, Calgary Crowfoot, AB]

Mr. Speaker, I thank the member for his kind words when he identified me under my former riding name.

I am very pleased that the member has been able to move this legislation. It is important. The reason it is important is that we have actually seen a deterioration in the information available to parliamentarians over the last number of years. The Liberals disclose even less information than they once did when we make inquiries through questions on the Order Paper or through the access to information system. There is a real need for this legislation, and the problem is becoming more urgent, not less.

Would the member like to comment on the reason we need this legislation?

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, indeed, the wonderful member for Calgary Crowfoot did identify that.

At one point, the Canada Revenue Agency used to disclose what the single largest writeoff was in a particular fiscal year. That practice, all of a sudden, changed. However, from my understanding, the Income Tax Act privacy rules did not change and the Privacy Act rules did not change, so it did not make much sense that the government and the Canada Revenue Agency would provide less information to the public and to this chamber than they did previously. That really was a significant driving factor in why this bill is here before the House tonight.

[Alexis Deschênes, Bloc, Gaspésie—Les Îles-de-la-Madeleine—Listuguj, QC]

Mr. Speaker, I want to commend my colleague's contribution to this debate. The Bloc Québécois welcomes the idea of making our democratic system more transparent and ensuring that taxpayers have a way of finding out when the government decides to write off debts. I commend his initiative and his ability to gather support across party lines, which is not nothing.

Can he tell us more about the impact he thinks this registry would have? For example, there was the case of Chrysler, where the government forgave a $2‑billion debt all at once. If there had been a registry, what would he have thought about that? In the future, if other debts are written off, that information would become public.

How does he think that would alter public discourse?

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, I believe that the member, as a first-term MP, is doing a wonderful job in his role and in bringing his expertise here.

Yes, if there are large writeoffs in the future that exceed the threshold, that information will become public, which then means parliamentarians and the public get more information about how their tax dollars are being used or not collected. It means we can then refocus the resources at the agency to ensure that we recover the money from corporations that is owed, or pass laws to make it more difficult for corporations to skip out on their tax bill.

I would also like to mention at this time that the member for Abitibi—Témiscamingue was a wonderful addition to our work on committee and helped this bill get here.

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, it is a pleasure to rise and speak to Bill C-230. I referred to the efforts by the member opposite in bringing forward the legislation. The government sees the legislation, as amended, as very much part of what the government wants to see happen: more accountability, more transparency and protecting the integrity of the CRA and the system, because it is of the utmost importance. The issue of collaboration was referred to, in the form of a question. I like to think that in the last week or so, we have debated private members' bills. Today, we are talking about Bill C-230. Bailey's law was passed. We had another Conservative piece of legislation, just yesterday, that we were okay with going to committee, and that was with regard to silver alerts.

Today, we are talking about another important piece of legislation. The principles behind it are very sound. At the end of the day, Canadians do not mind paying taxes, as long as there is a sense of integrity within the system and, most importantly, a sense of fairness. People are prepared to pay taxes as long as they feel they are fair and equitable. We often talk about taxes. People are very much concerned nowadays about how the government might be able to assist with affordability. The importance of taxation policy is absolutely critical during different types of business cycles that a nation goes through. That is one of the reasons we have to have the confidence of the citizenry regarding taxation policy.

In this case, just over a year ago, the Prime Minister, for example, gave tax relief on the carbon tax. That was followed by a substantial tax cut that provided support for 22 million people. We have the GST rebate being converted to the groceries and essentials benefit program. Eleven million Canadians are going to benefit from that. Taxation policy makes a difference and matters. That is not possible unless we have the confidence of Canadians that the system is fair, accountable and transparent. This is what the government has focused a great deal of attention on. Bill C-230 would add value to that.

I had the opportunity, over the last week or so, to amplify the word “collaboration”. The government is very focused on recognizing where there is value in private members' bills, and we look to the Conservatives recognizing the same thing in government bills. Where there is value, we should try to get bills through the House and into committee, allow them to get through third reading and, ultimately, pass the legislation. Canadians want parliamentarians of different political stripes to work together, recognize where we can make a social policy change, shift or modification, whatever it might be, and act on it. That is exactly what is happening here this evening.

We now have before us legislation that would ensure more accountability for corporations that write off money owed to the CRA. Uncollected money owed to the CRA impacts our general revenues. There is an obligation for government to show transparency where it can and, at the same time, respect privacy law concerns.

We need to be sensitive to the privacy laws we have. The legislation before us deals with that. It would allow the CRA, and the government ultimately, to provide more information. I believe there was an amendment brought forward with respect to the threshold. I am not 100% sure, but I think it is around the $2-million mark. That means having that registry, having that data. Information is so critically important not only from a government perspective but also from an opposition perspective. If it is done the way it could be done, the real winners are actually the taxpayers because they should have that sense of taxation policy and where it is that we are falling short.

When we think of corporations and small businesses in general, a vast majority pay their taxes at the appropriate time. They pay their debts and make sure, through those contributions, that we all benefit as a society. In regard to accountability and transparency, there is a percentage there, a very real and tangible percentage, where a significant amount of revenue is in fact lost. A better understanding of where that is coming from, as it could be the types of companies or all sorts of things, can be drawn out if that information is made available, while at the same time privacy laws are respected. We would all benefit from that.

For the Government of Canada and particularly our new Prime Minister, the issue of accountability and transparency applies to government expenditures and the collection of the finances we get in many different forms. It is being responsible with tax dollars. It is ensuring that smart decisions are in fact being made on behalf of the taxpayer. It is recognizing that when the registry is fully operational there is likely going to be a great deal of attention drawn to it. That attention is not going to be all good. We recognize that in government. However, we have standing committees that can contribute in a very positive way by going through the types of documents we would be able to draw out, which can improve the system.

I realize my time is coming to an end, but I want to emphasize one other thing, which is the incredible people who work for the CRA. The Canada Revenue Agency is second to no other agency in the world, I would argue, in terms of the degree to which it supports private individuals, the people we represent, and the businesses and so forth. It is an incredible task its workers have. It is something I personally would not want, but I applaud the efforts that, I would argue, 90% plus put in day in and day out so that governments at different levels are able to have the monies necessary to provide absolutely essential services, like health care, or supports to grow the economy, all of which are absolutely critical and the reason taxes are so important.

At the end of the day, we want transparency and accountability. We want the taxpayers to know they have a system they can have confidence in. This government will always push for people paying their fair share.

[Simon-Pierre Savard-Tremblay, Bloc, Saint-Hyacinthe—Bagot—Acton, QC]

Mr. Speaker, I am pleased to be here to speak to this bill introduced by my colleague, with whom I serve on the Standing Committee on International Trade. We work very well together. I was there when the Minister of Industry appeared before the committee. My colleague pressed her on the issue and had a rather intense exchange with her regarding the Stellantis case. I imagine that had an impact on my colleague's determination to see this bill through the legislative process.

I also read an article from October 22, 2018. It is not exactly recent, but it does show that the practices this bill aims to eliminate have been happening for a long time. The Radio-Canada article is about the Liberal government writing off a more than $2-billion loan it had granted to Chrysler. Actually, it was published by CBC News. The subheadings in the article are “Similarly opaque” and “In the dark”. These are the subheadings found in the article. That says it all. The article revealed that a $2.6-billion loan that had been granted to Chrysler in 2009 during the economic crisis had quite simply been quietly written off. To find this out, someone had to dig deep, had to search, had to consult one of the volumes of the 2018 Public Accounts of Canada to learn about it. The government certainly cannot claim to have been exceptionally transparent.

Let me say straightaway that we will be voting in favour of Bill C‑230 at third reading.

The bill aims to increase transparency surrounding debts owed to the Government of Canada by creating a public registry in the form of an online, searchable database of debts of $2 million or more that were forgiven or written off in whole or in part. The Government of Canada has an unfortunate tendency to be opaque when it comes to waiving debts, as we saw in the Chrysler case. The bill was amended in committee to clarify a number of things. For example, the minimum amount required for inclusion in the registry was raised. Other types of write-offs or benefits were also added, such as remissions and waivers. The bill was improved in committee. Although it was perfectly acceptable to begin with, it is even better now.

Additional amendments would force the government to create the registry within 18 months of royal assent and to exclude certain information for reasons related to the protection of personal, confidential or sensitive information. The President of Treasury Board will be required to provide reasons if information is excluded.

To summarize, the bill “amends the Financial Administration Act to require that the President of the Treasury Board establish and maintain a public registry of large debts and obligations owed by certain entities to His Majesty, as well as claims by His Majesty against such entities, that have been [written off or] forgiven”. It also makes “consequential amendments to other Acts”.

I will summarize the bill. It adds a section to the Financial Administration Act stating that the President of the Treasury Board must establish an online, searchable database containing information about a corporation, trust company or partnership once certain criteria are met. First, the value of the debt or obligation must be $2 million or more, as in the Chrysler case. Second, the debt, obligation or claim must be owing, meaning that an act of Parliament requires the state to demand repayment when the debt comes due. Third, the debt, obligation or claim must have been totally or partially written off, forgiven, remitted or waived.

A write-off, like the one granted to Chrysler in 2018, means that the government believes it will not be able to recover its money and therefore decides to remove the debt from its books, for example in the event of bankruptcy. A partial write-off would mean that the government agrees to write off part of the amount but still demands repayment of the difference. For example, if a company is on the verge of bankruptcy, the government may estimate that it can recover only a fraction of the debt. Forgiveness means that the government formally forgives a debt and legally releases the debtor, for example when the person who owes the money proves that the government made a mistake. This is perfectly normal.

The bill is good because it is fairly specific in this respect. For example, it states that the registry must include certain information, such as the name, as well as any business name, of the corporation, trust company or partnership. A numbered company must be included using its identifiable name, not just its actual number on the registry. The registry must also include the following: the amount that was remitted, forgiven, written off or waived; the period to which the amount relates; the legislation under which the debt, obligation or claim arose; and any other information that the President of the Treasury Board considers appropriate. The registry must be established within 18 months after the bill comes into force. The remainder of the bill makes consequential amendments to other acts. All of that is very sensible.

We know that the government already has all of the data required by the bill available in house. Some of that data is published in the public accounts, where we can find out the total amount of debt written off by department and the number of ministerial approvals, meaning the number of times the minister approved the write-off or forgiveness of a debt, obligation or claim, and the legislation under which the debt, obligation or claim arose. Other than that, there are no details that will enable us to identify the company or the amount lost. That is a lack of transparency.

For example, in the Public Accounts of Canada 2025, volume III, section 2, we can see which department approved the write-off or forgiveness of debts, obligations or claims. We see the total amounts. For 2024-25, for example, we know that the government gave up more than $7 billion, including $5.3 billion in write-offs and $1.2 billion in debt forgiveness. However, we know virtually nothing about the rest. That is a problem.

We also know, for example, that under the Old Age Security Act, the government wrote off more than $166 million in 2024-25. That is quite a lot of money, when we think about it. It is staggering that the public does not have access to this information, that they cannot find out any details about what happened, why it happened, which company was involved and under which law. We are talking about several billion dollars last year.

The upcoming bill is going to provide access to this information. Because of that, parliamentarians and journalists will be able to do a better job. The general public will be able to learn more. Experts will also have access to more information that they can use to understand the behaviour of certain companies and study solvency and other matters. This is a good thing, especially since Bill C‑230 is not going to create a mountain of work for public servants or cost a fortune to implement, considering that the government has already compiled all the information internally. The bill would simply make it all public. That is about it, just that.

In conclusion, I repeat that we enthusiastically support this bill and we will support it at third reading.

[Stephanie Kusie, Conservative, Calgary Midnapore, AB]

Mr. Speaker, it is always an honour and a pleasure to rise on behalf of the wonderful citizens of Calgary Midnapore to speak on their behalf.

The citizens of Calgary Midnapore recently went through something all Canadians went through, and that is tax filing at the end of April. Of course, this is the time when we all must do our duty to society and pay our fair share of taxes. At least, this is what we are supposed to do. Of course, there are always those who make the decision to not file their taxes. There are those who perhaps cannot pay what they owe or are reluctant to pay what they owe.

Certainly, it is a problem that compounds over time, but the majority of Canadians, certainly more than a fair share of Canadians, want to do the right thing, and that is pay their part to society and contribute to this incredible nation that we live in. One way we do that is by paying our taxes.

I want to thank the member for Simcoe North, who had the foresight to recognize that there was this lack of oversight in Canadian society and that there are corporate members who are not necessarily filing taxes for one reason or another. They owe an amount of tax to our society but are not paying it, and it is not being recognized that they have not kept their commitment to Canadian society in not having paid these amounts.

I just want to take a moment to thank the member for Simcoe North, who went through so much effort and recognized this was a problem. He is an expert in finance. I have been in his office when he has CNBC on and is following the financial markets, so it is no surprise to me that he would have this type of thinking and that he would recognize this as something that needs to be fixed.

I also want to thank him for taking the time to work with the other parties to gain their collaboration in bringing the bill forward and seeing it successfully to this stage in our process at the House. That is something very rare and special to do. I have never drawn higher than 238th in the private member's bill draw, so I am very grateful that, first of all, he had this good fortune; second, that he was able to see this idea; and third, that he had the tenacity and the persistence to work through the bill with the government. I would also like to recognize the government's piece in this collaboration.

Of course, as sitting members of the public accounts committee, we went through the bill in detail. We thought about all of the different aspects that would have to be considered. There was compromise on all sides, and again I want to thank the member for his compromise in that regard as well, because it is very easy to get very stubborn when it comes to one's own legislation. There could be something that they think should be a part of the bill, that they think is more accurate or that they do not want to include, but the member went beyond that.

Of course, we know that the Canada Revenue Agency is responsible for collecting debts owing to the government, but in recent years, the CRA has been waiving debts owing to the government in record numbers. Last year, the government wrote off $4.7 billion. It forgave $10.9 billion. In remissions it had $0.4 billion, and in waivers it had $2.6 billion. This is a total of $18.4 billion, which at this point would actually be close to 25% of the deficit we have, not only this year, but also last year.

At a time when we are encroaching upon $1.63 trillion in national debt, which we will get to by 2030, every single dollar counts, so I am grateful that the member saw this as the right thing to do for society. It is important for corporations to pay their fair share. At this time when we are in need of such fiscal prudence and responsibility, everyone is required to pay their fair share at this time, and that includes corporations.

The member for Simcoe North is not the only one who recognized this lack of oversight, this lack of acknowledgement, of people who are not paying their fair share. There are media outlets such as The Globe and Mail, and Bill Curry of course has done an excellent job of following the public accounts committee and the Treasury Board. Speaking of which, I am going to do a little promotion. On June 2, I am looking very much forward to taping, with the ArriveCAN team, the ArriveCAN second-year anniversary, and we will be distributing that at the end of June.

Bill Curry has been fantastic in terms of following stories such as these. CBC News also did a story on the $133 million written off that was owed by a single taxpayer, so this definitely is something that needed to be addressed. Write-offs and waivers for taxes owing to the government were done in secret because of privacy provisions in the Income Tax Act, and the member wanted to bring these numbers to light.

Historically, while the CRA spends a lot of time pursuing small businesses and ordinary Canadians who owe minor amounts to the CRA and to Canada, some major corporations have gone unaccountable and unnamed. The legislation would create a public registry that would require the Treasury Board to annually publish a list of corporate entities that had debts owing to the government waived, forgiven or written off.

The amount we put forward originally, the member was thinking, was somewhere from $1 million to $5 million. The number that was landed upon was $2 million, which is certainly a substantial amount, but I think it is a good amount that would really provide corporations with an incentive to pay their taxes so they do not end up on this list as well.

The contents of the public registry would have to include the following information in relation to each debt: the name, including any business name of the corporation, trust company or partnership that owes the debt or obligation to which His Majesty has a claim; the specific amount that was waived, written off or forgiven; the period to which the amount relates; the act under which the debt, obligation or claim arose; and any other information that the president of the Treasury Board may require.

The enactment would amend the Financial Administration Act to require the president of the Treasury Board to establish and maintain this public registry of certain large debts and obligations owed by businesses to His Majesty, as well as claims by His Majesty against businesses that have been waived, written off or forgiven. It would also make consequential amendments to other acts.

Here are some observations in relation to this. In 2023-2024, 11 companies received $1.2 billion in combined write-offs for tax debt and other obligations, and 11 companies accounted for nearly one-quarter of the $4.9 billion in write-offs in fiscal year 2023-2024. We are talking about a small number of bad players.

The bill's being passed would be a huge step in the direction of transparency. Certainly, on this side, we have always attempted to fight for transparency, such as in the appointment of a parliamentary budget officer who will always stand up for transparency and call the government out on things that do not appear to be accounted for.

Of course, we advocate against tax increases and new tax measures for everyday Canadians. Why should corporations get enormous debt write-offs when they target the little guy for significantly smaller amounts?

In summary, I want to again thank the member for Simcoe North for bringing forward the legislation. The right thing to do in society is to pay one's fair share that is owed to Canada and to one's fellow citizens. In addition, we are unfortunately in a terrible fiscal position, with significant debt as well as deficits, including $65 billion this year alone, and deficits for the last 15 years. The piece of legislation that is before us looks to remedy this.

[The Assistant Deputy Speaker, John Nater]

The member for Simcoe North has five minutes for his right of reply.

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, it is a pleasure to see you in the chair tonight, and I want to thank you for your hard work as well and your counsel along the way on this bill.

It is my pleasure to have listened to some very thoughtful speeches from my colleagues in this place, including my friend from the Bloc Québécois, the member for Saint-Hyacinthe—Bagot—Acton, who shares a committee spot with me on the international trade committee. I certainly appreciate his advice and counsel on that committee. He himself has a private member's bill he has introduced with respect to forced labour, which we are looking forward to supporting so it can get through the chamber and come to a vote.

With respect to the overall objectives of the bill, I would just mention that bringing integrity back to the system so Canadians have trust in it is important. As mentioned by my hon. colleague from Calgary Midnapore, there have been many journalists who have also helped keep this issue front and centre, including Mr. Bill Curry from The Globe and Mail, who has had a specific focus on this issue.

There are a number of great members on the public accounts committee. I am not able to mention whether they are here tonight, but I was very thankful that they brought their thoughtful questions to committee to help the bill get here. In fact, this was the first bill that went to the public accounts committee in almost 25 years, as I am told by the researchers at the Library of Parliament. We were not quite sure what we were doing there, but we were guided very well by the analysts, the clerk and the great chair, the hon. member for Saint John—St. Croix, who did a great job and even had an amendment of his own that helped get this bill over the line.

I would be remiss not to mention my staff: Roman Chelyuk and Kyla Canzanese, who is no longer in my office and now works at the mother ship in the whip's office, controlling all of the things we do in this place. I want to thank them for their wise counsel along the way.

As mentioned by the member for Calgary Midnapore, yes, the deficits are large, but we are here to help. I am here to help. This bill is here to help. I certainly appreciate the opportunity to bring it forward here this evening.

Of course, one can never forget to thank the most important people in our lives, our families. I want to thank my wife and children, Davie and Cooper, who are probably not watching this at home, but I will share the clip with them later.

I appreciate the opportunity, again, to stand here. It is an honour to have a chance to propose changing the statutes of this country. I certainly appreciate this and take this issue with great respect, and I hope we have moved the ball forward in progressing on this very important issue on behalf of taxpayers. It is, indeed, a matter of the public interest.

With that, I was always told to quit while I am ahead and take the win when I can have it. At this point, I believe I will ask that the House adopt this bill.

[The Assistant Deputy Speaker, John Nater]

The question is on the motion.

If a member participating in person wishes that the motion be carried or carried on division, or if a member of a recognized party participating in person wishes to request a recorded division, I would invite them to rise and indicate it to the Chair.

[Adam Chambers, Conservative, Simcoe North, ON]

Mr. Speaker, I ask that this bill be carried.

(Motion agreed to, bill read the third time and passed)