Mr. Speaker, Conservatives reject NDP and Liberal calls to use Canadian taxpayer money to bail Europe out of its debt crisis. The opposition needs to explain to Canadians why their hard-earned money should go to the IMF to bail out European countries that have borrowed to the brink.
Economic experts agree. Professor Stephen Gordon, one of Canada's preeminent economists, said that the Prime Minister was right to dismiss the IMF's calls for Canadians to fund the bailout. Harvard's Ken Rogoff, a former IMF economist, agrees Canada should not participate in an IMF bailout.
Unlike the opposition, our Conservative government will not adopt the same fiscally reckless policies that exacerbated the debt crisis in Europe. We have a plan to balance our books, while securing the long-term prosperity of our country. Indeed, Canada's economy is creating jobs and is home to one of the world's most stable financial sectors.
Canadian taxpayers should not be penalized by debt-focused fiscal policies of European countries. They should not be on the hook for Europe's unsustainable accumulation of debt. This is Europe's debt problem and it needs to fix it.