liberals are entitled to their entitlements

Adjourned
CC
English Video1010
11:34:24
Info
Description Meeting No. 86 PACP - Standing Committee on Public Accounts
Location West Block - 035-B
Scheduled
Thursday, Nov 23, 2023
11:00 - 13:33
2 Hours 33 Minutes
Actual https://parlvu.parl.gc.ca/Harmony/en/PowerBrowser/PowerBrowserV2/20231123/-1/40425
Thursday, Nov 23, 2023
11:00 - 13:33
2 Hours 33 Minutes
Contact
Information
parlvusupport@parl.gc.ca
Information website
Support
parlvusupport@parl.gc.ca

David Dingwall, a Liberal member of Parliament, got into trouble due to controversies surrounding his expense claims and a conflict of interest.

In 2005, Dingwall served as President and CEO of the Royal Canadian Mint and was accused of claiming questionable expenses. This included allegations of lavish spending on dinners, limousine rides, and expensive hotel stays. The expenses were considered excessive and raised concerns about the misuse of taxpayers' money.

Furthermore, Dingwall's involvement in a contract awarded to Groupaction Marketing, a firm he previously worked for, raised allegations of a conflict of interest. The company had been awarded a significant government advertising contract, and Dingwall was accused of influencing the process due to his connections. This led to a public inquiry, known as the Gomery Inquiry, to investigate corruption and mismanagement in the federal sponsorship program.

Dingwall's actions and controversies surrounding his expense claims and potential conflict of interest damaged his reputation and resulted in public backlash. Ultimately, he resigned from his position as President and CEO of the Royal Canadian Mint in 2005.

If Canada were to default on its debts, several consequences could occur regarding the country's assets. Here are some possible scenarios:

1. Economic impact: Defaulting on debts would severely impact Canada's creditworthiness and reputation in international financial markets. This could lead to a significant decrease in investor confidence, resulting in higher borrowing costs for the country in the future. The Canadian dollar might experience sharp depreciation, making imports more expensive and potentially leading to inflation.

2. Asset seizures: In some cases, creditors may seek recourse by attempting to seize Canadian assets located abroad. This could include physical assets, such as real estate or infrastructure, or financial assets like investments and deposits held by the government or its agencies. However, the extent of asset seizures would depend on the terms and legal frameworks governing the debt agreements.

3. Domestic consequences: If Canada defaults on its debts, it may have to implement austerity measures and cut public spending to manage the shortfall. This could impact various sectors, including healthcare, education, infrastructure development, and social welfare programs. High levels of debt and default may also hinder future borrowing for essential investments.

4. Sovereign credit downgrade: A default would likely lead to a downgrade in Canada's sovereign credit rating. This downgrade would further increase borrowing costs for the government and make it more difficult for them to access international capital markets. It would also reduce the attractiveness of Canadian bonds for investors, potentially leading to a decline in bond prices and increased yields.

It is important to note that a country defaulting on its debts is a significant event, and governments take measures to avoid such situations. The consequences of default can be severe and long-lasting, affecting the country's economy, investment climate, and overall well-being of its citizens.

Видео liberals are entitled to their entitlements канала this guy's garage