FINA Committee Meeting

The Standing Committee on Finance met at 3:29 p.m. this day, in Room 269, West Block, for the purpose of electing a Chair, pursuant to Standing Order 106(1).

On motion of Thomas J. Mulcair, it was agreed, — That James Rajotte be elected Chair of the Committee.

By unanimous consent, the Clerk of the Committee presided over the election of the Vice-Chairs.

On motion of Mike Wallace, it was agreed, — That Massimo Pacetti be elected First Vice-Chair of the Committee.

On motion of Robert Carrier, it was agreed, — That Daniel Paillé be elected Second Vice-Chair of the Committee.

James Rajotte took the Chair.

STATEMENT BY THE CHAIR

Pursuant to Order made by the House on Wednesday, March 3, 2010, the following routine motions in effect at the time of prorogation of the previous session are deemed to have been adopted by the Committee in the current session:

That the Committee retain the services of one or more analysts from the Library of Parliament, as needed, to assist the Committee in its work, at the discretion of the Chair.

That the Subcommittee on Agenda and Procedure be composed of the Chair, two (2) Vice-Chairs, a member of the other opposition party and the Parliamentary Secretary to the Minister of Finance.

That the Chair be authorized to hold meetings to receive and publish evidence when a quorum is not present, provided that at least four (4) members are present including one member of each recognized party.

That only the Clerk of the Committee be authorized to distribute to the members of the Committee documents and only when they exist in both official languages, and that witnesses be advised accordingly.

That the Clerk of the Committee be authorized to make the necessary arrangements to provide for working meals for the Committee and its subcommittees.

That, if requested, reasonable travel, accommodation and living expenses be reimbursed to witnesses not exceeding two (2) representatives per organization and that, in exceptional circumstances, payment for more representatives be at the discretion of the Chair.

That, unless otherwise ordered, each Committee member be allowed to have one staff member and one other staff person per party present at an in camera meeting.

That one copy of the transcript of each in camera meeting be kept in the Committee Clerk’s office for consultation by members of the Committee.

That 36 hours notice be required for any substantive motion to be considered by the Committee, unless the substantive motion relates directly to business then under consideration and that the notice of motion be filed with the Clerk of the Committee and distributed to members in both official languages.

That witnesses be given up to ten (10) minutes for their opening statement; that the order of questioners be as follows:

1st round
1. Liberal 7 minutes
2. Bloc Québécois 7 minutes
3. Conservative 7 minutes
4. New Democratic Party 7 minutes

2nd round
5. Liberal 5 minutes
6. Bloc Québécois 5 minutes
7. Conservative 5 minutes
8. Liberal 5 minutes
9. Conservative 5 minutes
10. Liberal 5 minutes
11. Conservative 5 minutes
12. New Democratic Party 5 minutes; and

That when a Minister appears 15 minutes per hour of appearance be allocaded for opening remarks and that the order of questions be as follows:

1st round
1. Liberal 7 minutes
2. Bloc Québécois 7 minutes
3. New Democratic Party 7 minutes
4. Conservative 7 minutes

2nd round
5. Liberal 5 minutes
6. Bloc Québécois 5 minutes
7. Conservative 5 minutes
8. Liberal 5 minutes
9. Conservative 5 minutes
10. Liberal 5 minutes
11. Conservative 5 minutes
12. New Democratic Party 5 minutes.

That all meetings of the Committee be held in Centre Block and televised whenever possible.

On motion of John McCallum, it was agreed, — That the Committee begin a study on retirement income security of Canadians and report its findings to the House and that, although the Committee may decide to expand the hearings in the future, it should begin by deciding to hold meetings on the following topics:

-one meeting on the health of federally regulated pension plans;

-two meetings on the adequacy of retirement savings among Canadians;

-one meeting on the treatment of underfunded pension plans in the event of employer bankruptcies under the Bankruptcy and Insolvency Act;and

-one meeting comparing Canada’s retirement income security system to those of other Organisation for Economic Co-operation and Development (OECD) countries.

On motion of John McCallum, it was agreed, — That the Committee dedicate one meeting to generating a report to the House regarding what the Committee heard during our December 3, 2009, hearings on the Tax Treatment and Characterization of Personal Services Business.

On motion of John McCallum, it was agreed, — That the Committee invite officials from the Department of Finance to explain the Department’s written response to this Committee’s motion of June 2, 2009, regarding the taxation of employee stock options.

At 3:46 p.m., the Committee adjourned to the call of the Chair.