Mr. Speaker, if a CEO took control of a company and invented new financial definitions to make the books look better, shareholders would have questions, but if he could not even apply those definitions consistently, they would ask if he even understood his own definitions. This is exactly what is happening with Canada's finances.
The Prime Minister invented new definitions used nowhere else in the world. The PBO said that he relabelled $94 billion of operating expenses as investments. The IMF has called for greater alignment with international standards and independent verification. The new PBO says that classifications cannot be independently replicated and are being used inconsistently. In the financial world, this is completely unacceptable.
I call on the Liberal government to scrap this fake accounting scheme.