Sandra Cobena

Prime Minister Mr. Speaker, Canadians were billed $195,000 for inflight catering for thefor three trips: Scottish salmon fillet, sautéed beef with world-famous creamy sauce and, for dessert, luxury Normandy butter cups. Every dollar the Prime Minister spends on his elite palate was first taken from a hard-working Canadian. This Prime Minister means more costs, more taxes, more debt and more on [more]

Prime Minister Mr. Speaker, is the member saying that $195,000 for steak and fine wine is necessary for theto do his job? That is shameful. In April alone in Canada, Canadians saw gas rise 28%, food rise 3% and hydro rise 20%. At a time like this, Canadians expect fiscal restraint because, for them, the cost of food and shelter is more than 125% of their income. Prime Minister If thereally [more]

Mr. Chair, the minister did not answer the question. They will be borrowed funds, $25 billion in borrowed funds, whereas Norway funds it by surpluses. My next question is this: Norway also ensures diversified global investments, so how is this fund expecting the best-in-class returns without global diversification?

Mr. Chair, if the member was following the golden class example of Norway, with budget surpluses, diversification and no political interference, then yes, it would be a good thing, but here, in fact, it is the opposite, which is why I am asking the questions. He is failing to answer them. Here is another question. We have received zero information in terms of the cost of the fund. I asked the [more]

Mr. Chair, how much will the bureaucracy cost? I want just the number. The minister must know the numbers. I would like just the number for how much it will cost in terms of the bureaucracy.

Mr. Chair, on the one hand, the minister is saying it will not have political influence, but then, in the same sentence, he says “we” will ensure that it will be in the national interest, and “we” will decide which projects those will be. The reality is that Norway has zero political influence, and here the fund will have tons. My question to the minister is this. If the fund does not follow any [more]

Mr. Chair, the reality is that the Liberal government will appoint a Liberal board. This fund will have borrowed money, no diversification and full political interference. Those are the characteristics of a political slush fund, so how can the minister call this a sovereign wealth fund?

Mr. Chair, my question was about diversifying investments. I did not receive an answer. Norway does not, in fact, invest the funds domestically. The minister is proposing exactly the opposite, to invest only in Canada. My next question is this: Norway, which is the best-in-class example, ensures that the fund is free from political interference, so how can the fund be independent if it is [more]

Mr. Chair, I am not talking down anything. I am actually asking very simple questions, and I am getting zero answers. The transport committee has recommended that the Canada Infrastructure Bank be abolished because it benefited Liberal-appointed insiders and, in fact, failed to fill infrastructure gaps. Why are the Liberals doubling down on a failed policy and refusing to follow the gold [more]

Prime Minister Mr. Chair, Canadians are struggling to buy groceries, and the CEO of the Canada Infrastructure Bank is getting paid close to $1 million. It is not delivering. Now theand the minister want to recreate this whole scenario with yet another bureaucracy and another set of executives who will get paid millions of dollars as well. Let us be transparent. How much will the minister pay the [more]

Mr. Chair, there are incredibly successful sovereign wealth funds around the world. The minister is choosing not to follow the example and is, in fact, doing the opposite. That is basic research. Why is the minister choosing to do that?

Mr. Chair, how much will Canadians pay in interest on the $25 billion of debt that this fund will use? I want just the number.

Mr. Chair, we actually have an example. The Liberals established the Canada Infrastructure Bank. It was supposed to support infrastructure projects that are in the public interest, and it cannot even deploy the $35 billion it was given because of regulatory roadblocks that the government creates. How can the minister pretend that this fund will be able to deploy the funds it will be given?

Mr. Chair, the minister assures Canadians that it will be independent. Who will appoint these independent board members?

Calgary East Mr. Chair, I will be splitting my time with the member for. Norway's sovereign wealth fund is considered the gold standard, and its success is driven by reinvested budget surpluses and oil and gas revenue. Where is the $25-billion seed money coming from for Canada's fund?