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FINA Committee Meeting

Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.

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Minutes of Proceedings

Standing Committee on Finance (FINA)

44th Parliament, 1st Session

Meeting 67

Monday, November 21, 2022, 3:31 p.m. to 5:33 p.m.

Room 415, Wellington Building, 197 Sparks Street

Televised

Presiding

Peter Fonseca, Chair (Liberal)

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Members of the Committee present

Liberal

Conservative

Bloc Québécois

Gabriel Ste-Marie

NDP

Daniel Blaikie

Acting Members present

• Jenna Sudds for Julie Dzerowicz (Liberal)

In attendance

Library of Parliament

• Michaël Lambert-Racine, Analyst

• Joëlle Malo, Analyst

Subject Matter of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022

Witnesses

Canadian Space Agency

• Jason Wood, Executive Director, Space Exploration and Space Industry Policy

Department of Crown-Indigenous Relations and Northern Affairs

• Luc Beaudry, Director, Engagement Policy Directorate, Indigenous Institutions and Governance Modernization, Resolution and Partnerships

• Mazin El-Ghadban, Social Policy Researcher, Engagement Policy Directorate, Indigenous Institutions and Governance Modernization, Resolution and Partnerships

Department of Employment and Social Development

• Vincent Côté, Senior Policy Analyst, Federal Workers' Compensation Service, Labour Program

• Ourania Moschopoulos, Acting Director, Policy, Federal Workers' Compensation Service, Labour Program

• Atiq Rahman, Assistant Deputy Minister, Learning Branch

Department of Finance

• Maximilian Baylor, Senior Director, Saving and Investment Section, Business Income Tax Division, Tax Policy Branch

• Gina Clark, Director, International Finance Section

• Anne David, Director, Asset Management, Crown Investment and Asset Management

• Robert Demeter, Senior Director, Business Property and Personal

• Pascale Dugré-Sasseville, Director, Financial Institutions Taxation

• Jack Glick, Senior Advisor, Sales Tax Division

• Lindsay Gwyer, Director General, Legislation, Tax Legislation Division, Tax Policy Branch

• Robert Ives, Senior Advisor, Sales Tax Division, Tax Policy Branch

• Blaine Langdon, Director, Charities, Personal Income Tax Division, Tax Policy Branch

• Pierre Leblanc, Director, Personal Income Tax Division, Tax Policy Branch

• Pierre Mercille, Director General, Sales Tax Legislation, Sales Tax Division, Tax Policy Branch

• Yves Poirier, Director, Economic Development, Personal Income Tax Division

• Amanda Riddell, Director, Real Property and Financial Institutions, Sales Tax Division, Tax Policy Branch

• Oliver Rogerson, Director, Resources, Environment and Special Projects, Business Income Tax Division, Tax Policy Branch

• Gregory Smart, Expert Advisor, Sales Tax Division, Tax Policy Branch

Pursuant to Standing Order 108(2) and the motion adopted by the committee on Wednesday, November 16, 2022, the committee commenced its study of subject Matter of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022.

Jason Wood, Luc Beaudry, Atiq Rahman, Lindsay Gwyer, Jack Glick, and Pierre Mercille made statements and, with Yves Poirier, Maximilian Baylor, and Pascal Dugré-Sasseville, answered questions.

Committee Business

The committee proceeded to the consideration of matters related to committee business.

Motion

Jasraj Singh Hallan moved, — That regarding the continued elevated inflation rate as highlighted in the Fall Economic Statement, the Governor of the Bank of Canada and the Deputy Prime Minister and Minister of Finance appear for 90 minutes each, every quarter within three weeks of the release of the Bank of Canada’s Key Interest Rate Announcement, and that these quarterly meetings continue until inflation returns to levels within the Bank of Canada’s target range of 1-3%, and that these meetings are in addition to other key committee appearances.

Debate arose thereon.

Motion

Terry Beech moved, — That the debate be now adjourned.

At 4:47 p.m., the sitting was suspended.

At 4:53 p.m., the sitting resumed.

The question was put on the motion and it was negatived on the following recorded division:

YEAS: Yvan Baker, Terry Beech, Sophie Chatel, Heath MacDonald, Jenna Sudds — 5;

NAYS: Daniel Blaikie, Adam Chambers, Jasraj Singh Hallan, Philip Lawrence, Marty Morantz, Gabriel Ste-Marie — 6.

The debate resumed on the motion of Jasraf Singh Hallan

At 5:10 p.m., the sitting was suspended.

At 5:12 p.m., the sitting resumed.

On motion of Heath MacDonald, it was agreed, — That the motion be amended by adding after the words “as highlighted in the Fall Economic Statement” the following: “and as part of the committee study on inflation”.

On motion of Yvan Baker, it was agreed, — That the motion be amended by adding after the words “key committee appearances” the following: “and that these meetings start in 2023”.

Amendment

Yvan Baker moved, — That the motion be amended by adding after the words “for 90 minutes each” the following: “provided resources allow for a three hour meeting, otherwise theses meetings be for 60 minutes each, ”.

Debate arose thereon.

The question was put on the amendment of Yvan Baker and it was negatived on the following recorded division:

YEAS: Yvan Baker, Terry Beech, Sophie Chatel, Heath MacDonald, Jenna Sudds — 5;

NAYS: Daniel Blaikie, Adam Chambers, Jasraj Singh Hallan, Philip Lawrence, Marty Morantz, Gabriel Ste-Marie — 6.

Amendment

Heath MacDonald moved, — That the motion be amended by replacing the words “quarter within three weeks of the release of the Bank of Canada’s Key Interest Rate Announcement” with the following “Spring and Fall sitting of the House”, and delete the word "quarterly".

Debate arose thereon.

The question was put on the amendment of Heath MacDonald and it was negatived on the following recorded division:

YEAS: Yvan Baker, Terry Beech, Sophie Chatel, Heath MacDonald, Jenna Sudds — 5;

NAYS: Daniel Blaikie, Adam Chambers, Jasraj Singh Hallan, Philip Lawrence, Marty Morantz, Gabriel Ste-Marie — 6.

The question was put on the motion, as amended, and it was agreed to on the following recorded division:

YEAS: Daniel Blaikie, Adam Chambers, Jasraj Singh Hallan, Philip Lawrence, Marty Morantz, Gabriel Ste-Marie — 6;

NAYS: Yvan Baker, Terry Beech, Sophie Chatel, Heath MacDonald, Jenna Sudds — 5.

The motion, as amended, read as follows:

That regarding the continued elevated inflation rate as highlighted in the Fall Economic Statement and as part of the committee study on inflation, the Governor of the Bank of Canada and the Deputy Prime Minister and Minister of Finance appear for 90 minutes each, every quarter within three weeks of the release of the Bank of Canada’s Key Interest Rate Announcement, and that these quarterly meetings continue until inflation returns to levels within the Bank of Canada’s target range of 1-3%, and that these meetings are in addition to other key committee appearances and that these meetings start in 2023.