Finance committee votes to raise debt ceiling to $1,831,000,000,000


The House of Commons Finance Committee has approved to raise the debt ceiling ahead of the federal budget, which is set to be unveiled on April 19th. According to Blacklock’s Reporter, on Tuesday the committee voted 7-4 in favour of the Trudeau government’s proposed increase to Canada’s debt ceiling, bringing Canada’s maximum debt level from $1.168 trillion to $1.831 trillion. “Why not two trillion? Why not five trillion?” asked Conservative MP Pat Kelly. “Why even have a ceiling if the ceiling is going to far exceed any notion of spending that has yet been presented to Parliament?” The proposed debt ceiling hike is included in Bill C-14, a law proposed by Finance Minister Chrystia Freeland that ratifies many of the pandemic spending measures announced by the government in recent months. The last time the debt ceiling was raised was in 2017.

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