FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 58

Wednesday, January 17, 2007

The Standing Committee on Finance met in a televised session at 10:04 a.m. this day, in Room 237-C, Centre Block, the Chair, Brian Pallister, presiding.

Members of the Committee present: Diane Ablonczy, Rick Dykstra, Hon. John McCallum, Massimo Pacetti, Brian Pallister, Pierre A. Paquette, Mike Wallace and Judy Wasylycia-Leis.

Acting Members present: Ted Menzies for Dean Del Mastro, Richard Nadeau for Thierry St-Cyr, Hon. Jim Peterson for Michael Savage and Paul Szabo for Hon. John McKay.

In attendance: Library of Parliament: June Dewetering, Principal . Parliamentary Information and Research Service: Alexandre Laurin, analyst.

Pursuant to Standing Order 106(4), the Committee commenced consideration of the request by four (4) members of the Committee requesting that the Committee organize and hold hearings on the government's decision to tax income trusts.

John McCallum moved, — That the Finance Committee invite expert witnesses to appear, including officials from the Department of Finance, to testify in regards to the decision to tax income trusts. At least six hours are to be allocated for these meetings to be held before February 2, 2007.

Pierre A. Paquette moved, — That the motion be amended by adding after the words "to be held", the following:

"beginning".

The question was put on the amendment of Pierre A. Paquette and it was agreed to, by a show of hands: YEAS: 6; NAYS: 5.

Debate resumed on the motion, as amended.

Pierre A. Paquette moved, — That the motion be further amended by adding before the words, "That the Finance Committee", the following:

That notwithstanding the Standing Committee on Finance's support for Ways and Means Motion no. 10 adopted by the House of Commons on November 7, 2006.

The question was put on the amendment of Pierre A. Paquette and it was agreed to, by a show of hands: YEAS: 6; NAYS: 5.

Debate resumed on the motion, as amended

Rick Dykstra moved, — That the motion be further amended by adding after the words, "to tax income trusts", the following:

including all witnesses and individuals under the previous Liberal Government's mishandling of the Income Trust issue.

The question was put on the amendment of Rick Dykstra and it was negatived, by a show of hands: YEAS: 5; NAYS: 6.

Debate resumed on the motion, as amended.

Mike Wallace moved, — That the motion be further amended by deleting the words, "before February 2, 2007" and by substituting the following:

within the first 30 sitting days.

The question was put on the amendment of Mike Wallace and it was negatived, by a show of hands: YEAS: 5; NAYS: 6.

Debate resumed on the motion, as amended.

Massimo Pacetti moved, — That the motion be further amended by adding after the words, "to tax income trusts," the following:

with a view to preparing a report for the Minister of Finance.

The question was put on the amendment of Massimo Pacetti and it was agreed to, by a show of hands: YEAS: 6; NAYS: 5.

Debate resumed on the motion, as amended.

The question was put on the motion, as amended, and it was agreed to, by a show of hands: YEAS: 6; NAYS: 5.

At 11:27 a.m., the sitting was suspended.

At 11:35 a.m., the sitting resumed in camera.

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

At 11:52 a.m., the Committee adjourned to the call of the Chair.

Elizabeth B. Kingston
Clerk of the Committee

2007/01/18 2:51 p.m.