The appetite for a government would be to seek shorter-term debt because the interest rate is lower. In the short term, while that government is in office, even if in the long run the cost to the crown is higher by virtue of the fact that it would have to be reissued at higher interest rates later on, how do we protect against the short-term interests of a government trying to minimize its interest costs during the lifetime of that government, balanced against the long-term financial interests of the Government of Canada, which is to keep debt servicing costs down for a generation?
On May 19th, 2016. See this statement in context.