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Government To Publish List Of Large Forgiven Debts

An Act to amend the Financial Administration Act and to make consequential amendments to other Acts (debt forgiveness registry)

Summary

  • Requires the President of the Treasury Board to create and maintain an online, searchable public registry listing any $1,000,000+ debts or claims owed to the federal government by corporations, trusts, or partnerships that have been waived, written off, or forgiven.
  • The registry must disclose the debtor's legal/business name, the amount forgiven, the period covered, and the Act under which the debt arose, plus any other required details.
  • Amends the Income Tax Act, Excise Tax laws, and other statutes to allow confidential taxpayer information to be shared solely for the purpose of populating this registry.
  • The goal is to increase transparency and accountability for large corporate debt forgiveness decisions and reduce opaque write-offs.

Builder Assessment

Vote Yes

Overall, the bill advances transparency and fiscal accountability with minimal economic downside, aligning most clearly with efficient, rules-based government. Its effects on growth, exports, and productivity are indirect, so alignment is modest but net positive.

  • Aligns with Tenet 6 by improving oversight and deterring wasteful or preferential write-offs.
  • Supports Tenet 2 by breaking secrecy and reducing room for cronyism, reinforcing fair competition.
  • Neutral on growth/productivity/exports and tax reform; no direct policy levers there.
  • Potential minor risk: public disclosure could chill some legitimate restructuring settlements; mitigate with clear context fields.
  • To strengthen alignment: publish decision rationale and recovery actions; mandate OAG audits; automate data feeds to minimize admin cost; index the $1M threshold; add safeguards for ongoing investigations; include timelines and standardized reporting.

Question Period Cards

Will the government support Bill C-230 and commit to publishing all $1‑million‑plus corporate debt write-offs so taxpayers can finally see who benefits from forgiven public debts?

When will the government table a concrete productivity plan that cuts red tape, accelerates major project approvals, and attracts investment back to Canada?

What immediate steps will the government take to reduce ER wait times and secure more family doctors this year, and will new health transfers be tied to measurable results?

Principles Analysis

Canada should aim to be the world's most prosperous country.

Improves fiscal transparency but has no direct effect on growth or national income.

Promote economic freedom, ambition, and breaking from bureaucratic inertia (reduce red tape).

Curbs opaque, insider deals and reduces secrecy, reinforcing rule-of-law and a level playing field.

Drive national productivity and global competitiveness.

Productivity impacts are indirect; may modestly deter rent-seeking but does not change production incentives.

Grow exports of Canadian products and resources.

No trade or export provisions.

Encourage investment, innovation, and resource development.

Transparency can enhance investor confidence, though public disclosure could marginally chill some settlements; net effect unclear.

Deliver better public services at lower cost (government efficiency).

Accountability for large write-offs can deter waste, improve collections, and strengthen stewardship of public funds.

Reform taxes to incentivize work, risk-taking, and innovation.

Does not change tax rates or structure; only permits information sharing for the registry.

Focus on large-scale prosperity, not incrementalism.

A procedural transparency measure; benefits are modest rather than transformative.

Did we get the builder vote wrong?

Email [email protected]

PartyConservative
StatusOutside the Order of Precedence
Last updatedSep 19, 2025
TopicsEconomics, Public Lands
Parliament45