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FINA Committee Meeting

Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.

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Minutes of Proceedings

43rd Parliament, 2nd Session
Meeting 37
Tuesday, April 27, 2021, 3:59 p.m. to 6:18 p.m.
Hon. Wayne Easter, Chair (Liberal)

Library of Parliament
• Andrew Barton, Analyst
• Michaël Lambert-Racine, Analyst
Bank of Canada
• Tiff Macklem, Governor
Pursuant to Standing Order 108(2), the committee resumed its study of the report of the Bank of Canada on monetary policy.

Tiff Macklem made a statement and answered questions.

Office of the Parliamentary Budget Officer
• Yves Giroux, Parliamentary Budget Officer
• Chris Matier, Senior Director, Economic and Fiscal Analysis
• Trevor Shaw, Director, Fiscal Analysis
Pursuant to Standing Order 108(2), the committee commenced its study of Economic and Fiscal Outlook.

Yves Giroux made a statement and, with Trevor Shaw and Chris Matier, answered questions.

At 5:07 p.m., the sitting was suspended.

At 5:10 p.m., the sitting resumed.

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

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

Your Subcommittee met on Monday, April 26, 2021, to consider the business of the committee and agreed to make the following recommendations:

  1. That the committee meet for two hours on Tuesday, May 4, 2021 and invite Dr. Paul Kershaw from Generation Squeeze, as well as witnesses from the Canada Mortgage and Housing Corporation; and that two additional witnesses be invited, provided that one is from the governing party;

  2. That the committee adopt the following motion from Mr. Peter Julian:

    1. That the committee conduct a study to follow up on the CBC/Radio-Canada Enquête/Fifth Estate report in connection with the committee's interrupted 2016 study on tax avoidance and tax evasion and fraud; that the Sub-Committee on Procedure meet to establish a schedule of committee meetings and invite relevant witnesses, including the Minister of National Revenue and the Minister of Finance, in connection with the use of tax structures in tax havens, including in the Isle of Man, that allow taxpayers and businesses to avoid paying their taxes in Canada; to keep the results of financial statements secret; to use tax structures to avoid legal proceedings; and that the committee be informed of any tools put in place to combat international tax evasion and how effective those measures have been to prevent individuals and businesses from avoiding facing Canadian justice in the case of fraud and tax evasion;

  3. That, pursuant to Standing Order 108(2) and the motion of Mr. Peter Julian, the committee undertake a study of “Canada Revenue Agency’s Efforts to Combat Tax Avoidance and Evasion”; and that the evidence and documentation received by the committee during the first session of the 42nd Parliament on the subject be taken into consideration by the committee in the current session; and that the committee meet on Thursday, May 6, 2021, to commence this study and invite six witnesses;

  4. That the Chair call a subcommittee meeting as soon as possible after Friday, May 7, 2021, to plan future business;

  5. That, if the Budget Implementation Act is presented in the House, the committee commence a prestudy of the said Act on Tuesday, May 11 and Thursday, May 13, 2021; and that the Minister of Finance be invited as well as senior officials;

  6. That the committee continue its study of the Budget implementation Act during the week of May 17, 2021 with witnesses from the public;

  7. That the analysts work with the Chair and the clerk to provide the committee with a summary of recommendations in regard to its study on COVID-19 Spending, Programs, and Related Monetary Policy for an eventual report to the House.

    It was agreed, — That the Fifth Report from the subcommittee be concurred in.

    At 6:18 p.m., the committee adjourned to the call of the Chair.

    Alexandre Roger
    Clerk of the Committee