The mandate of the House of Commons Standing Committee on Finance, which is established under Standing Order 104(2)(g) of the House of Commons, is to examine and enquire into all matters referred to it by the House of Commons, to report from time to time and, except when the House otherwise orders, to send for persons, papers and records, as it operates in accordance with its mandate.
Certain standing committees, including the Standing Committee on Finance, are empowered to study and report on all matters relating to the mandate, management and operation of the department or departments of government that are assigned to them from time to time by the House. For the Standing Committee on Finance, these departments include the Department of Finance and the Canada Revenue Agency.
Finally, the Standing Committee on Finance also has the responsibility to consider budgetary policy, as outlined in Standing Order 83.1. In particular, commencing on the first sitting day in September of each year, the Committee is authorized to consider and report on proposals regarding the budgetary policy of the government. The Committee normally presents its pre-budget report no later than the tenth sitting day before the last normal sitting day in December, as outlined in Standing Order 28(2).
In each parliamentary session, the Committee’s work may include:
briefing sessions by departmental officials on federal programs
examination of planned expenditures of the Department of Finance and the Canada Revenue Agency
a review of Order in Council appointments
a review of Monetary Policy Reports of the Governor of the Bank of Canada
a review of the Minister of Finance’s economic and fiscal update
consideration of proposed legislation
special studies on topics within the Committee’s mandate