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Minutes of Proceedings

42nd Parliament, 1st Session
Meeting No. 120
Tuesday, October 31, 2017, 3:31 p.m. to 6:36 p.m.
Televised
Presiding
Hon. Wayne Easter, Chair (Liberal)

Library of Parliament
• Andrew Barton, Analyst
• Brett Capstick, Analyst
Bank of Canada
• Stephen S. Poloz, Governor
• Carolyn A. Wilkins, Senior Deputy Governor
Pursuant to Standing Order 108(2) the Committee resumed its study of the Report of the Bank of Canada on Monetary Policy.

Stephen S. Poloz made a statement and, with Carolyn A. Wilkins, answered questions.

At 5:00 p.m., the sitting was suspended.

At 5:06 p.m., the sitting resumed.

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

The Chair presented the Seventh Report from the Subcommittee on Agenda and Procedure. The Report was concurred in and read as follows:

Your Subcommittee met on Thursday, October 31, 2017, to consider the business of the Committee and agreed to make the following recommendations:

1. That, when the Chair receives an embargoed copy of a report from the Parliamentary Budget Officer (PBO) 24 hours before it is made public, the report be distributed to the Members of the Committee, and the report remains confidential until it is made public by the PBO;

2. That, in relation to the Pre-Budget Consultations in advance of the 2018 budget,

a) the analysts provide the Committee with a list of recommendations made by the witnesses who appeared;

b) the draft report be distributed to Members at the end of the day on Friday, November 24, 2017;

c) the draft report contain an executive summary describing the main themes of the report;

d) the Committee include a statement about the trip to Washington, D.C. and New York, N.Y. in the report;

e) the parties submit their proposed recommendations to the Clerk in both official languages, no later than 5:00 p.m. on Thursday, November 30, 2017;

f) the Committee meet on Monday, December 4, 2017, and on Tuesday, December 5, 2017, from 3:30 p.m. to 5:30 p.m., to consider the draft report; and

g) the Committee meet on Wednesday, December 6, 2017, from 3:30 p.m. to 5:30 p.m., if necessary, to continue consideration of the draft report;

3. That the Clerk proceed with planning the Committee’s trip to Washington, D.C. and New York, N.Y. according to the draft itinerary discussed by the Subcommittee;

4. That, with respect to Bill C-63, A second Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures:

a) the Committee begin a subject matter study of the Bill on Thursday, November 2, 2017, even if the Bill itself has not yet been referred to Committee;

b) the Committee invite departmental officials to appear on the Bill on Thursday, November 2, 2017, from 3:30 p.m. to 5:30 p.m.;

c) Members of the Committee submit their prioritized witness lists to the Clerk of the Committee no later than 5:00 p.m. on Thursday, November 2, 2017;

d) the Committee invite witnesses to appear on the Bill on Tuesday, November 7, 2017, from 3:30 p.m. to 6:30 p.m. and Thursday November 9, 2017 from 3:30 p.m. to 6:30 p.m.;

e) the Committee invite the Minister of Finance to appear on Wednesday, November 8, 2017, from 4:15 p.m. to 5:15 p.m., and that officials appear from 5:15 p.m. to 5:45 p.m. if necessary;

f) if the Bill is referred to the Committee by the House during the subject matter study, all evidence and documentation received in public in relation to its subject matter study of the Bill be deemed received by the Committee in the context of its study of the Bill pursuant to the order of reference;

g) the Clerk of the Committee write immediately to each Member who is not a member of a caucus represented on the Committee to inform them of the beginning of the subject matter study of the Bill by the Committee and to invite them to prepare and submit any proposed amendments to the Bill for the Committee’s consideration during the clause-by-clause study of the Bill;

h) the Committee, provided the order of reference is received by the Committee, proceed with clause-by-clause consideration of the Bill no later than Tuesday, November 21, 2017 8:45 a.m., provided that the Chair may limit debate on each clause to a maximum of five minutes per party, per clause;

i) amendments be submitted to the Clerk of the Committee no later than noon on Thursday, November 16, 2017 and distributed to Members in both official languages; (the dates in (h) and (i) two dates are pending the approval of the Committee at its meeting on Tuesday October 31, 2017 and subject to the Bill being referred to the Committee);

j) if the Committee has not completed the clause-by-clause consideration of the Bill by 9:00 p.m. on Tuesday November 21, 2017, all remaining amendments submitted to the Committee shall be deemed moved, the Chair shall put the question, forthwith and successively, without further debate on all remaining clauses and proposed amendments, as well as each and every question necessary to dispose of clause-by-clause consideration of the Bill, as well as all questions necessary to report the Bill to the House and to order the Chair to report the Bill to the House as soon as possible;

5. That, pursuant to the order of reference of Thursday, October 26, 2017, the Committee consider the Supplementary Estimates (B) 2017-18 before the reporting deadline set out in Standing Order 81(5); and that the Committee invite the Minister of Finance to appear on Wednesday, November 7, 2017, from 3:15 p.m. to 4:15 p.m.;

6. That, pursuant to the order of reference of Thursday, October 26, 2017, the Committee invite the Minister of National Revenue and departmental officials to appear on Thursday, November 23, 2017, from 3:30 p.m. to 5:30 p.m. on the Supplementary Estimates (B) 2017-18.

Office of the Parliamentary Budget Officer
• Jean-Denis Fréchette, Parliamentary Budget Officer
• Chris Matier, Senior Director, Economic and Fiscal Analysis
• Mostafa Askari, Deputy Parliamentary Budget Officer
• Trevor Shaw, Economic Advisor, Analyst
Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Thursday, February 4, 2016, the Committee resumed its study of Economic and Fiscal Outlook.

Jean-Denis Fréchette made a statement and, with Chris Matier, Mostafa Askari and Trevor Shaw, answered questions.

At 5:34 p.m., the Hon. Pierre Poilievre took the Chair.

At 5:43 p.m., the Hon. Wayne Easter took the Chair.

At 6:36 p.m., the Committee adjourned to the call of the Chair.



Suzie Cadieux
Clerk of the Committee