Canada

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.

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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.

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“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/