FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 8

Thursday, April 15, 2010

The Standing Committee on Finance met in a televised session at 3:30 p.m. this day, in Room 253-D, Centre Block, the Chair, James Rajotte, presiding.

Members of the Committee present: Kelly Block, Robert Carrier, Bernard Généreux, Russ Hiebert, Hon. John McCallum, Ted Menzies, Massimo Pacetti, Daniel Paillé, James Rajotte and Mike Wallace.

Acting Members present: Martha Hall Findlay for Hon. John McCallum, Martha Hall Findlay for Hon. John McKay, Wayne Marston for Thomas J. Mulcair and Yasmin Ratansi for Hon. John McKay.

In attendance: Library of Parliament: June Dewetering, Chief Analyst ; Mark Mahabir, Analyst . House of Commons: Julie-Anne Macdonald, Committee Clerk.

Witnesses: As an individual: Ian Lee, Director, Master of Business Administration (MBA) Program, Sprott School of Business, Carleton University. BMO Financial Group: Tina Di Vito, Director, Retirement Strategies, Private Client Group. Canadian Federation of Independent Business: Catherine Swift, President and Chief Executive Officer; Doug Bruce, Director, Research. Federally Regulated Employers - Transportation and Communications (FETCO): John Farrell, Executive Director; Ian Markham, Canadian Retirement Innovation Leader, Towers Watson; Marlene Puffer, Managing Director, Twist Financial. Office of the Superintendent of Financial Institutions Canada: Judy Cameron, Managing Director, Private Pension Plans Division.

Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Tuesday, March 9, 2010, the Committee resumed its study of the retirement income security of Canadians.

The witnesses made statements and answered questions.

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

The Chair presented the First Report from the Subcommittee on Agenda and Procedure which read as follows:

The Committee has agreed to meet on April 15, 20 and 22 and on May 11, 13 and 27, and on June 1, 2010 on its study of the retirement income security of Canadians;

To hold a meeting on April 27, 2010 on the Report of the Governor of the Bank of Canada on Monetary Policy;

To hold a meeting on May 4, 2010 with economists from the private sector, representatives from the Department of Finance and the Office of the Parliamentary Budget Officer;

To hold a meeting on May 25, 2010 on the Main Estimates 2010-2011;

To hold meetings on June 3 and 8, 2010 on Bill C-290, An Act to amend the Income Tax Act (tax credit for loss of retirement income);

To hold a meeting on June 10, 2010 on Tax Treatment and Characterization of Personal Services Business;

To hold a meeting on June 15, 2010 on taxation of employee stock options; and

To hold at least 4 meetings on Bill C-9, An Act to implement certain provisions of the budget tabled in Parliament on March 4, 2010 and other measures.

It was agreed, — That the report of the Subcommittee be concurred in.

At 5:31 p.m., the Committee adjourned to the call of the Chair.

Jean-François Pagé
Clerk of the Committee

2010/06/30 11:26 a.m.