Yes, both. I would also like to provide some clarification.
Subsections 4(1) and 4(2) are fundamentally different. The first deals with the interest rate people pay to government and the second deals with the interest rate that government pays to people. If we increase the amount under paragraph 4(2)(b) from 2% to 4%, the government's accounts payable will increase. You cannot know by how much, since accounts payable and receivable fluctuate.
I would also like clarification about the amendment to paragraph 4(1)(a). Madam said earlier that it would change the whole system. Does it mean that all the government's interest rates are based on this formula? The one proposed here is almost double jeopardy. Treasury bills return a given yield at a specific time, which would reflect the market rate, and then you add 4% on top.
This is tantamount to saying that the government essentially views people who owe it money as deadbeats since it wants 4% more than the normal rate. This must be emphasized because it is important. Whether we get paid interest or pay interest, it should be the current rate with a little extra added on, as banks do.
If we change the percentage under paragraph 4(2)(b) to 4%, it will cost the government more, but requiring individuals who owe money to the government to pay 4% more than the Treasury bill rate is not showing great esteem for Canadians.