FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 18

Tuesday, March 31, 2009

The Standing Committee on Finance met at 9:03 a.m. this day, in Room 213, Wellington Building, the Chair, James Rajotte, presiding.

Members of the Committee present: Hon. Maxime Bernier, Robert Carrier, Bob Dechert, Daryl Kramp, Jean-Yves Laforest, Hon. John McCallum, Hon. John McKay, Ted Menzies, Thomas J. Mulcair, Massimo Pacetti, James Rajotte and Mike Wallace.

In attendance: Library of Parliament: Philippe Bergevin, Analyst ; Mark Mahabir, Analyst.

Witnesses: Small Investor Protection Association: Stan Buell, Founder and President. Canadian Finance and Leasing Association: David Powell, President and Chief Executive Officer. Financial Executives International Canada: Michael Conway, Chief Executive and National President; Michael Boychuk, Senior Vice-President and Treasurer, Bell Canada. Investment Counsel Association of Canada: Ms. Katie Walmsley, President; Thomas Johnston, Treasurer, Board of Directors.

Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Thursday, February 5, 2009, the Committee resumed its study on Measures to Enhance Credit Availability and the Stability of the Canadian Financial System.

Stan Buell, David Powell, Michael Conway and Katie Walmsley made statements and, with the other witnesses, answered questions.

At 10:49 a.m., the sitting was suspended.

At 10:51 a.m., the sitting resumed.

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

Jean-Yves Laforest moved, — That the Finance Committee recommend that the government increase the Parliamentary Budget Officer’s budget to $2.7 million, as was planned for 2009-2010, and that the Committee report this motion to the House.

RULING BY THE CHAIR

The Chair ruled the proposed motion inadmissible as it exceeds the mandate of the Standing Committee on Finance, but it is within the mandate of the Standing Joint Committee on the Library of Parliament pursuant to Standing Order 108(4)(a).

Whereupon, Jean-Yves Laforest appealed the decision of the Chair.

The question: "Shall the decision of the Chair be sustained?" was put and the decision was overturned on the following recorded division: YEAS: Maxime Bernier, Bob Dechert, Daryl Kramp, Ted Menzies, Mike Wallace — 5; NAYS: Robert Carrier, Jean-Yves Laforest, John McCallum, John McKay, Thomas J. Mulcair, Massimo Pacetti — 6.

After debate, the question was put on the motion and it was agreed to on the following recorded division: YEAS: Robert Carrier, Jean-Yves Laforest, John McCallum, John McKay, Thomas J. Mulcair, Massimo Pacetti — 6; NAYS: Mike Wallace — 1.

At 11:09 a.m., the Committee adjourned to the call of the Chair.

Jean-François Pagé
Clerk of the Committee

2009/04/01 9:43 a.m.