FINA Committee Meeting

Meeting No. 60

Thursday, February12, 1998

The Standing Committee on Finance met at 9:03 o’clock a m. this day in Room 362 East Block, the Acting Chair, Paul Szabo, presiding.

Members of the Committee present: Scott Brison, David Iftody, Gilles Perron, Karen Redman, Gerry Ritz, Paul Szabo, Paddy Torsney and Tony Valeri.

Acting Members present: John McKay for Gary Pillitteri.

In attendance: From the Research Branch, Library of Parliament: Richard Domingue and Marion Wrobel, Research Officers.

Witnesses: From the Canadian Alliance of Student Associations (CASA): Hoops Harrison, National Director. From the Charitable Incentives Tax Force: David Boyd-Thomas, Member and Gordon Floyd, Member.

In accordance with the Order of Reference of the House of Commons of Wednesday, February 4, 1998, the Committee resumed consideration of Bill C-28, An Act to amend the Income Tax Act, the Income Tax Application Rules, the Bankruptcy and Insolvency Act, the Canada Pension Plan, the Children's Special Allowances Act, the Companies' Creditors Arrangement Act, the Cultural Property Export and Import Act, the Customs Act, the Customs Tariff, the Employment Insurance Act, the Excise Tax Act, the Federal- Provincial Fiscal Arrangements Act, the Income Tax Conventions Interpretation Act, the Old Age Security Act, the Tax Court of Canada Act, the Tax Rebate Discounting Act, the Unemployment Insurance Act, the Western Grain Transition Payments Act and certain Acts related to the Income Tax Act. (See Minutes of Proceedings of Tuesday, February 10, 1998, Meeting No. 59 .)

Hoops Harrison made a statement and answered questions.

At 9: 16 o'clock a.m., Paddy Torsney took the Chair.

At 9:46 o'clock a.m., the sitting was suspended.

At 9:47 o'clock a.m., the sitting resumed.

By unanimous consent, it was agreed, - That the Committee proceed to the consideration of its future business.

The Vice-Chair presented the Second Report of the Sub-Committee on Agenda and Procedure which reads as follows:

"Your Sub-Committee on Agenda and Procedure met in camera at 9:39 o’clock a.m. Thursday, February 5, 1998 in Room 362 East Block, the Chair, Maurizio Bevilacqua, presiding.

Members of the Sub-Committee present: Maurizio Bevilacqua; Scott Brison; Gilles Perron; Nelson Riis; Monte Solberg, Paddy Torsney and Tony Valeri.

In attendance: From the Committees and Legislative Services Directorate: Eric Janse, Committee Clerk.

Also in attendance: From the Parliamentary Research Branch: Richard Domingue and Marion Wrobel, Research Officers.

The Sub-Committee met to consider the future business of the Committee and agreed to make the following recommendations:

1. That the Committee commence its study of Bill C-28 - An Act to amend the Income Tax Act, the Income Tax Application Rules, the Bankruptcy and Insolvency Act, the Canada Pension Plan, the Children's Special Allowances Act, the Companies' Creditors Arrangement Act, the Cultural Property Export and Import Act, the Customs Act, the Customs Tariff, the Employment Insurance Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the Income Tax Conventions Interpretation Act, the Old Age Security Act, the Tax Court of Canada Act, the Tax Rebate Discounting Act, the Unemployment Insurance Act, the Western Grain Transition Payments Act and certain Acts related to the Income Tax Act on Tuesday, February 10, 1998 at 9:00 a.m. with officials from the Department of Finance. That witnesses be invited to appear on Thursday, February 12, 1998 and that Clause-by-Clause consideration of the Bill be scheduled for Tuesday, February 17, 1998 at 9:00 a.m.

2. That the researchers be instructed to prepare a background document on the issues related to possible subjects for future study by the Committee. These areas to include: the value of the Canadian Dollar; Brain Drain issues; the role and impact of increasing levels of self-employment on federal revenues and fiscal policy, and Community Economic Development and, that this document be distributed at the next meeting of the Committee.

3. That the members of the Committee provide the Clerk with their list of potential expert witnesses on these topics."

On motion of Karen Redman, it was agreed, - That the Second Report of the Sub-Committee on Agenda and Procedure be amended to reflect the changes in the meeting schedule of Bill C-28, adding a meeting on Tuesday, February 17, 1998 to hear additional witnesses and re-scheduling the Clause-by-Clause consideration of the Bill to Thursday, February 19, 1998.

By unanimous consent, it was agreed, - That the Second Report of the Sub-Committee on Agenda and Procedure be adopted as amended.

On motion of Gerry Ritz, it was agreed, - That, in view of the changes in the Committee's work-plan to the end of March 1998, the Committee authorise the reduction in its budget of the amount of $25,000 and that these funds be returned to the Liaison Committee.

At 9:50 o'clock a.m., the Committee returned to consideration of its Order of the Day.

Gordon Floyd and David Boyd-Thomas made statements and answered questions.

At 10:31 o’clock a.m., the Committee adjourned to the call of the Chair.

Carol Chafe

Clerk of the Committee