moved for leave to introduce Bill C-240, an act to amend the Debt Servicing and Reduction Account Act (gifts to the crown).
Mr. Speaker, this bill would put an end to a process that has been taking place over the years. There has always been a debt reduction and servicing account where people could make gifts to the crown, supposedly to reduce the debt. But the government has always had access to that account and could play this sort of shell game where it pays off a bit of the debt and then borrows the money back again.
My bill would make sure that any money given specifically to the crown to pay down the debt would have to stay in trust until such time as there were surpluses, then it could be used to pay down the debt.
(Motions deemed adopted, bill read the first time and printed)