Freeland Proposes Debt Ceiling Hike to Record $2.1 Trillion

Published on May 1, 2024

Finance Minister Chrystia Freeland is proposing that the national debt limit be increased for the second time in three years, this time to a record $2.1 trillion. Ms. Freeland is proposing Ottawa’s debt ceiling be increased by 16 percent from $1.83 trillion to $2.13 trillion, according to a document tabled in the House of Commons April 30, which was first obtained by Blacklock’s Reporter. “I call upon my parliamentary colleagues to pass this as soon as possible,” said Ms. Freeland in the document, which did not include an explanation for the need to increase the limit under the Borrowing Authority Act. Known as the Ways and Means Motion, the tabled document will be used to advance the government’s 2024 budget priorities....

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