Hon. René Cormier: Like me, you appreciate the facts, Senator Housakos.

According to data collected by thinktv, community media advertising revenue fell from $1 billion to $400 million between 2012 and 2021. The data from thinktv also shows a drastic increase in advertising revenue for social media and search engines.

Senator Housakos, would you agree that this bill will help restore some balance for the benefit of Canadian news media, including local news media, which is essential for providing coverage of local news?

Senator Gold: Well, it’s important to repeat facts in the face of repeated claims that aren’t factual, colleagues.

The fact is, our economy is strong and able to absorb these investments. Yes, it increases spending, but it’s not reckless spending. It’s intelligent, focused, targeted and purposeful spending. The fact that our economy is doing as well as it is is a function of the spending and investments of this government over the past number of years. Now is the time, because the world won’t wait.

An Hon. Senator: Facts.