FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 67

Thursday, February 19, 2015

The Standing Committee on Finance met at 8:46 a.m. this day, in Room 228, The Valour Building, the Chair, James Rajotte, presiding.

Members of the Committee present: Mark Adler, Joyce Bateman, Hon. Ron Cannan, Raymond Côté, Nathan Cullen, Pierre Dionne Labelle, James Rajotte, Andrew Saxton and Dave Van Kesteren.

Acting Members present: Emmanuel Dubourg for Hon. Scott Brison, Gerald Keddy for Mark Adler and Dave MacKenzie for Mark Adler.

In attendance: Library of Parliament: Mark Mahabir, Analyst.

Witnesses: Canada China Business Council: Peter Harder, President, Policy Advisor, Dentons LLP. Canadian Chamber of Commerce: Hendrik Brakel, Senior Director, Economic, Financial and Tax Policy. Ministry of Finance and Corporate Relations, British Columbia: Jim Hopkins, Assistant Deputy Minister, Provincial Treasury.

Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Tuesday, February 03, 2015, the Committee resumed its study on the Canadian Renminbi Trading Centre.

Peter Harder, Hendrik Brakel and Jim Hopkins, by videoconference from Victoria, British Columbia, made statements and answered questions.

At 10:15 a.m., the sitting was suspended.

At 10:19 a.m., the sitting resumed.

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

Nathan Cullen moved, — That the Committee undertake a study of the impacts of the decline in the global price of oil on government revenues and the Canadian economy, including impacts on the value of the Canadian dollar, energy and manufacturing sectors, and the labour and housing markets; and that the Committee invite the Governor of the Bank of Canada and the Minister of Finance, among others, to appear before the Committee at the earliest convenience on this matter.

After debate, the question was put on the motion and it was negatived, by a show of hands: YEAS: 4; NAYS: 5.

Pierre Dionne Labelle moved, — That the Finance Committee study how to combat tax evasion strategies used by some Canadians listed by HSBC’s Swiss branch as secret account holders and which was made public by the International Consortium of Investigative Journalists.

At 10:40 a.m., by unanimous consent and pursuant to Standing Order 115(5), it was agreed that the Committee continue to sit.

After debate, the question was put on the motion and it was negatived, by a show of hands: YEAS: 4; NAYS: 5.

At 10:47 a.m., the Committee adjourned to the call of the Chair.

Christine Lafrance
Clerk of the Committee

2015/04/29 9:34 a.m.