Yes I am.
The proposed legislative amendments are technical in nature and will have no impact on the government's debt or deficit. Only crown corporations will be affected, particularly those that are subject to part X of the Financial Administration Act and that prepare financial statements in compliance with the International Financial Reporting Standards (IFRS).
The proposed legislative amendments will ensure that crowns with no borrowing authority are able to enter into lease agreements to run their day-to-day operations. They will require the Minister of Finance's approval before entering into leases over a certain threshold. Statutory borrowing limits exclude these lease transactions.
Thank you.