This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
{
"time": "2022-05-02 11:15:00",
"attribution": {
"en": "Mr. Nicholas Leswick",
"fr": "M. Nicholas Leswick"
},
"content": {
"en": "<p data-HoCid=\"7138660\" data-originallang=\"en\">Thank you for the question. I'm happy to do that at a high-level, in broad terms. </p>\n<p data-HoCid=\"7138661\" data-originallang=\"en\">Over the course of the pandemic, it was necessary for the government to issue a lot of debt to fund COVID emergency response programs and to fill in gaps from the interruption of revenues over the course of the pandemic and, obviously, the economic contraction through 2020 and into 2021. </p>\n<p data-HoCid=\"7138662\" data-originallang=\"en\">The government had committed to funding this debt program through the extension of the term structure of the debt, edging more into the long end of the yield curves with longer duration bonds. You see that reflected in the debt management strategy. </p>\n<p data-HoCid=\"7138663\" data-originallang=\"en\">As interest rates are at historic lows\u2014albeit creeping up gradually as the economy strengthens\u2014a bulk of the debt was funded at the long end, so you see that reflected in the chapter you referenced.</p>",
"fr": "<p data-HoCid=\"7138660\" data-originallang=\"en\">Merci de la question. Je me ferai un plaisir de l'expliquer en d\u00e9tail, en termes g\u00e9n\u00e9raux.</p>\n<p data-HoCid=\"7138661\" data-originallang=\"en\">Pendant la pand\u00e9mie, le gouvernement a d\u00fb \u00e9mettre beaucoup de dettes pour financer les programmes d'intervention d'urgence et combler les lacunes dues \u00e0 l'interruption des revenus au cours de la pand\u00e9mie et, \u00e9videmment, \u00e0 la contraction \u00e9conomique en 2020 et jusqu'en 2021.</p>\n<p data-HoCid=\"7138662\" data-originallang=\"en\">Le gouvernement s'\u00e9tait engag\u00e9 \u00e0 financer le programme d'emprunts en prolongeant la dur\u00e9e de remboursement de la dette, en se rapprochant davantage de l'extr\u00e9mit\u00e9 longue des courbes de rendement avec des obligations de plus longue dur\u00e9e. C'est pr\u00e9vu dans la Strat\u00e9gie de gestion de la dette.</p>\n<p data-HoCid=\"7138663\" data-originallang=\"en\">Puisque les taux d'int\u00e9r\u00eat n'ont jamais \u00e9t\u00e9 aussi bas \u2014 m\u00eame s'ils augmentent graduellement \u00e0 mesure que l'\u00e9conomie s'am\u00e9liore \u2014, une bonne partie de la dette \u00e9tait financ\u00e9e \u00e0 long terme, ce qui est pr\u00e9vu dans le chapitre que vous avez mentionn\u00e9.</p>"
},
"url": "/committees/finance/44-1/40/nicholas-leswick-5/",
"politician_url": null,
"politician_membership_url": null,
"procedural": false,
"source_id": "11649767",
"document_url": "/committees/finance/44-1/40/",
"related": {
"document_speeches_url": "/speeches/?document=%2Fcommittees%2Ffinance%2F44-1%2F40%2F"
}
}