FINA Committee News Release
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Standing Committee on Finance |
HOUSE OF COMMONS CHAMBRE DES COMMUNES OTTAWA, CANADA K1A 0A6 |
Comité permanent des finances |
For immediate release
NEWS RELEASE
Structure of Federal Revenue-Raising in Canada
Ottawa, February 25, 2008 -
Today, the House of Commons Standing Committee on Finance announced that it will begin a study of the current and desired system for raising federal revenues. Unlike the 2007 pre-budget consultations, which were more focussed on existing and requested rates and levels of taxes, fees and other charges, the focus of the current study will be on the broader system by which revenues are raised federally in this country.
“I am very pleased to be announcing this study, which is critically important to all Canadian residents and businesses as well as timely. Committee members believe that there is much to be learned about the current system by which federal revenues are raised and about how this activity occurs in other industrialized countries,” said Mr. Rob Merrifield, M.P., Chair of the Committee.
The Committee will be inviting selected groups and individuals to submit briefs and make presentations to it. These witnesses will be asked to comment on such issues as:- the existing domestic and international systems used to raise revenues as well as how various elements within these systems interact;
- domestic structural issues or problems that may be resulting in reduced efficiency and equity, including avoidance behaviours;
- the effects of the current revenue-raising system on employment, living standards, savings, investment productivity, economic growth and other domestic goals; and
- proposed revenue-neutral changes or reforms that would lead to enhanced efficiency, equity, transparency, simplicity and other revenue-raising goals.
The Committee hopes to begin its hearings with the invited groups and individuals on March 31, 2008.
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