1/3: Federal government debt is currently about $1.5 trillion.
In the next 12 months, 29% of that - almost $500 Billion - must be refinanced, likely at rates about 100 points higher than the current 2.5%.
@gregmcleanyyc.bsky.social
@gregmcleanyyc.bsky.social1/3: Federal government debt is currently about $1.5 trillion.
In the next 12 months, 29% of that - almost $500 Billion - must be refinanced, likely at rates about 100 points higher than the current 2.5%.
@gregmcleanyyc.bsky.socialWhen govt incurs heavy debt, interest costs rise (which now total more than we spend on health care).
Govt debt also causes interest rates to rise for other borrowers, including business investors & consumer loans and mortgages.
When rates go up, everyone pays.
@gregmcleanyyc.bsky.social2/2: I alerted my colleagues in the House to this impending risk because 29% of our debt must be refinanced at higher rates this year.
@gregmcleanyyc.bsky.social1/2: I met with Jennifer Thompson, President of the Confluence, her EA Erin Malo, and Devon LeClair, Director of Business Development & Event Operations, to learn more about the Site Concept Plan.
#calgarycentre #yyc #cdnpoli #theconfluence
@gregmcleanyyc.bsky.social1/5: 🧵Remember the "Green Slush Fund" (SDTC): an estimated $123 million was handed out inappropriately including to companies owned by board members and Liberal insiders.
@gregmcleanyyc.bsky.social2/2: Information about where and when to vote is here: elections.ab.ca/current-elec...
@gregmcleanyyc.bsky.social1/2: I toured the Vertigo Theatre at the base of the Calgary Tower with new Executive Director Breanne Harmon, Artistic Director Jack Grinhaus, and past chair Misheck Mwaba (also President of Bow Valley College).
@gregmcleanyyc.bsky.socialThank you to Esther Olatunji for inviting me to speak at the Black Business Summit at Platform Calgary, hosted by Connecting the Dots. I had the chance to talk with people starting small businesses and becoming entrepreneurs. Very inspiring!
@gregmcleanyyc.bsky.socialI again participated in Pokaiks Society's 10th Reconciliation Walk (Pokaiks means "children" in Blackfoot), an Indigenous-led non-profit committed to "reconciliACTION" through arts & culture. The orange shirts signify that every child matters.
@gregmcleanyyc.bsky.social2/2: There are several events happening around Calgary today. The Chamber of Commerce has assembled a full list which you can consult here:
mailchi.mp/calgarychamb... #calgarycentre
#yyc #cdnpoli #dayoftruthandreconciliation
[picture from Pokaik's Walk last year].
@gregmcleanyyc.bsky.socialApplications now open for first year P-S students to work as Pages on Parl Hill in 2027-28. Applicants must be orally bilingual, starting a post-secondary program in National Capital region in Sept 2027, and be Cdn citizen or PR. Apply by Nov 8.
@gregmcleanyyc.bsky.socialAlong with fellow Parliamentarians and members of the diplomatic corps, I was pleased to attend the Eid Milad un-Nabi Conference last week, commemorating Prophet Muhammad's Birthday.
@gregmcleanyyc.bsky.socialHappy Thanksgiving to the Korean community who celebrated Chuseok this weekend, their largest holiday. The 3-day festival began on Friday, and marks the mid-autumn harvest, typically celebrated as a family reunion and a chance to honour ancestors. 추석 잘 보내세요
@gregmcleanyyc.bsky.socialFrom last evening to sundown on October 2, the Jewish community is celebrating Sukkot, the annual harvest and thanksgiving festival. Chag Sukkot Sameach to my Jewish neighbours and friends!
@gregmcleanyyc.bsky.social1/4: This summer, we saw several federal government spending announcements of money that was not included in the $65 billion deficit projected in the spring budget. This matters, and risks becoming a crisis.
@gregmcleanyyc.bsky.socialDoing that every day. Talked to a lot of people in #CalgaryCentre over the summer. At festivals and community events, at the doors, in my office, and on the phone. My position is clear, consistent, and posted on all my MP resources.
@gregmcleanyyc.bsky.socialAsked about Alberta's referendum & why Conservatives want a strong AB in a strong Canada, with colleague MP Dane Lloyd, I noted Albertans' legitimate frustrations, but Ottawa should treat Alberta fairly through meaningful policy change not separation.
@gregmcleanyyc.bsky.socialThis govt created a financial reality where Cdns are asked to take on more debt, pay more interest & accept a lower standard of living than the last generation. Work harder and expect less is not the legacy we should leave our children. My remarks in the House today.
@gregmcleanyyc.bsky.socialWarm wishes to those marking the Day of Atonement. May today be a beacon of wisdom and hope for a healthy and successful year ahead.
@gregmcleanyyc.bsky.socialI toured Interpro Pipe & Steel in the Ogden area of #calgarycentre. Thank you Ken Wilson, Director of Operations, and his team. Thanks also to the United Steel Workers Local 6673 for the work they do in advocating for the industry and those critical skilled jobs.
