Debt writeoffs by the federal government climbed above the $5-billion mark during the last fiscal year, according to figures reviewed by The Globe and Mail, adding to a debate over Ottawa’s practice of keeping the identities of those who benefit from such debt relief secret.
…
The upward trend in writeoffs inspired Conservative MP Adam Chambers to introduce a private member’s bill, C-230, that would require Ottawa to publicly disclose all corporate writeoffs worth $1-million or more.
…
“This is a great legislative initiative,” said Liberal MP Ryan Turnbull, the parliamentary secretary to François-Philippe Champagne, the Minister of Finance and National Revenue, during the debate on the bill.
https://www.theglobeandmail.com/politics/article-ottawas-debt-writeoffs-climb-above-5-billion-mark/
I understand write-offs could be justified under some scenarios, but if they’re kept under wraps, we won’t know if the system is being abused.
It’s great to see multi-party support for the bill.