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FINA Committee Meeting

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Minutes of Proceedings

43rd Parliament, 2nd Session
Meeting 13
Friday, December 11, 2020, 1:00 p.m. to 3:59 p.m.
Webcast
Presiding
Hon. Wayne Easter, Chair (Liberal)

House of Commons
• Alexandre Roger, Procedural Clerk
 
Library of Parliament
• Andrew Barton, Analyst
• Brett Capwell, Analyst
• Sylvain Fleury, Analyst
The committee proceeded to the consideration of matters related to committee business.

By unanimous consent, it was agreed, — That a proposed budget in the amount of $ 9,150, for the study of Pre-Budget Consultations in Advance of the 2021, be adopted.

As an individual
• Livio Di Matteo, Professor of Economics, Department of Economics, Lakehead University
Canadian Chamber of Commerce
• Trevin Stratton, Chief Economist and Vice-President, Policy
Fitness Industry Council of Canada
• Scott Wildeman, President
Northwest Territories Association of Communities
• Lynn Napier, Mayor of Fort Smith
Canadian Housing and Renewal Association
• Jeff Morrison, Executive Director
Canadian Mental Health Association
• Margaret Eaton, National Chief Executive Officer
Équiterre
• Marc-André Viau, Director, Government Relations
First Nations Tax Commission
• C.T. (Manny) Jules, Chief Commissioner
Pursuant to Standing Order 108(2) and the motion adopted by the committee on Thursday, November 19, 2020, the committee resumed its study of the pre-udget onsultations 2021.

Livio Di Matteo, Trevin Stratton, Scott Wildeman and Lynn Napier made statements and answered questions.

At 2:04 p.m., the sitting was suspended.

At 2:09 p.m., the sitting resumed.

Jeff Morrison, Margaret Eaton, Marc-Anré Viau and C.T. (Manny) Jules made statements and answered questions.

Motion

Pierre Poilievre moved, — That the Committee compel the Bank of Canada and the Parliamentary Budget Officer to perform the below calculations and provide answers to the following questions, by no later than Monday, December 21, 2020: (a) what was the total combined purchase price of all the Government of Canada bonds the Bank of Canada purchased on the secondary market since March 1, 2020 and what was the total combined purchase price of those same bonds when originally auctioned on the primary market (please provide the answer, not a website URL; (b) what was the average sale price of each of the following Government of Canada securities since March 1, 2020 to the primary market, for: (i) 90-day treasuries, (ii) 1-year bond, (iii) 2-year bond, (iv) 3-year bond, (iv) 5-year bond, (v) 10-year bond, and (vi) 30-year bond (please provide the answer, not a website URL); (c) what is the average sale price of the following securities at time of issuance paid by all purchasers, other than the Bank of Canada, for (i) 90-day treasuries, (ii) 1-year bond, (iii) 2-year bond, (iv) 3-year bond, (v) 5-year bond, (vi) 10-year bond, (vii) 30-year bond (please provide the answer, not a website URL); (d) what was the average purchase price paid by the Bank of Canada for the following securities since March 1, 2020, for (i) 90-day treasuries, (ii) 1-year bond, (iii) 2-year bond, (iv) 3-year bond, (v) 5-year bond, (vi) 10-year bond, and (vii) 30-year bond (please provide the answer, not a website URL); and (e) provide a list of all corporate bonds the Bank of Canada has purchased since March 1, 2020, including the names of the companies, the purchase and sales prices per unit, the dates of the purchases and the total purchase price of all the corporate securities (please provide the answer, not a website URL)..

The question was put on the motion and it was negatived on the following recorded division:

YEAS: Tamara Jansen, Peter Julian, Pat Kelly, Cathy McLeod, Pierre Poilievre — 5;

NAYS: Julie Dzerowicz, Peter Fragiskatos, Sean Fraser, Annie Koutrakis, Michael V. McLeod, Gabriel Ste-Marie — 6.

At 3:59 p.m., the committee adjourned to the call of the Chair.



Evelyn Lukyniuk
Clerk of the Committee