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FINA Committee Meeting

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Meeting No. 29
Tuesday, December 7, 2004

The Standing Committee on Finance met at 9:38 a.m. this day, in Room 536 Wellington Building, the Chair, Massimo Pacetti, presiding.


Members of the Committee present: Don H. Bell, Guy Côté, Charles Hubbard, Yvan Loubier, John McKay, Maria Minna, Massimo Pacetti, Brian Pallister, Charlie Penson, Monte Solberg and Judy Wasylycia-Leis.


Acting Members present: Richard Harris for Rona Ambrose.


In attendance: Library of Parliament: June Dewetering, Principal Analyst; Alexandre Laurin, Analyst.

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

Charles Hubbard moved, — That the Finance Committee recommends to Parliament that Canadians earning less than $10,000 per year should receive a special income tax credit that would be equal to the amount of tax calculated.

For Example:

Annual income from all sources $9,800.00

Tax Owed $9800 X 16 % = $1,568.00

Tax Credits $7756@16%= $1,240.96

Income Tax to be paid $327.04

Special Credit for low income tax payer $327.04 .


Monte Solberg moved, — That the Motion be tabled.


The question was put on the motion and it was agreed to, by a show of hands: YEAS: 10; NAYS: 1.


Pursuant the motion on 48 hour motion notice agreed on Tuesday, October 12, 2004:


Yvan Loubier moved, — That the Standing Committee on Finance establish a special subcommittee with the mandate to propose concrete solutions to correct the fiscal imbalance and that this subcommittee comprise at least one member of each political party, excluding the chair, and that it have a researcher and a clerk. This subcommittee will hold hearings on this matter. It twill table its report to the Standing Committee on Finance for adoption and the final report will be tabled in the House of Commons no later than June 2, 2005.


John McKay moved, — That the words “Fiscal Imbalance“ be replaced by “Fiscal Constraint“.


The Chair ruled the amendment out of order because a committee cannot amend an Order of Reference from the House.


The question was put on the motion and it was agreed to, by a show of hands: YEAS: 6; NAYS: 4.


Monte Solberg moved, — That Yvan Loubier be appointed the Chair of the Subcommittee on Fiscal Imbalance.


After debate, the question was put on the motion and it was agreed to.


At 10:40 a.m., the sitting was suspended.

At 10:49 a.m., the sitting resumed, in camera.

Pursuant to Standing Order 83.1, the Committee resumed its pre-budget consultations 2004.

The Committee commenced consideration of a draft report.


At 11:07 a.m., the Committee adjourned to the call of the Chair.


Richard Dupuis
Clerk of the Committee

2008/11/17 1:43 p.m.