Madam Speaker, that is an excellent point that I did not get a chance to bring up in my speech.
The government keeps talking about the debt-to-GDP ratio going down, but it purposely fails to mention that the cost of servicing the debt will increase over time. The cost associated with the debt is somewhere between $28 billion and $32 billion a year. Who gets money from servicing the debt? The banks and major international financiers, that's who. It is certainly not middle-class Canadians, who actually own the state, who will get that money.
If interest rates go up as the Bank of Canada projects, the cost of servicing the debt will increase significantly. The government's fiscal framework does not account for that. That is another reason why we cannot support this utterly flawed policy.