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
Conservative
Bloc Québécois
Alain Deneault and Jason Ward made statements and answered questions.
At 5:27 p.m., the meeting was suspended.
At 5:33 p.m., the meeting resumed.
Silas Xuereb and Sasha Caldera made statements and answered questions.
Jean-Denis Garon moved, — That, given that, according to the Parliamentary Budget Officer's report, the projected deficit has more than doubled since the 2024 Fall Economic Statement, that the new spending measures transform what would have been a surplus operating balance into a deficit, that he considers that the overly broad definition of capital investments used by the government creates a major discrepancy with his estimates, that the lack of an objective definition of these investments directly influences budgetary decisions, and that the Parliamentary Budget Officer's stress tests indicate that it is unlikely that the government will meet its budgetary anchor of reducing the deficit-to-GDP ratio, the committee invite the Parliamentary Budget Officer as soon as possible, for a period of two hours, to examine the current budgetary situation, the methodology surrounding capital investments, and the government's ability to meet its financial commitments; and that the testimony of the Parliamentary Budget Officer must necessarily take place before the study of the budget implementation bill begins.
Debate arose thereon.
Ryan Turnbull moved, — That the motion be amended by replacing the words “according to the Parliamentary Budget Officer's report, the projected deficit has more than doubled since the 2024 Fall Economic Statement, that the new spending measures transform what would have been a surplus operating balance into a deficit, that he considers that the overly broad definition of capital investments used by the government creates a major discrepancy with his estimates, that the lack of an objective definition of these investments directly influences budgetary decisions, and that the Parliamentary Budget Officer's stress tests indicate that it is unlikely that the government will meet its budgetary anchor of reducing the deficit-to-GDP ratio” with the words “Budget 2025 and the Budget Implementation Act 2025 have been tabled in the House of Commons”; adding after the words “committee invite the Parliamentary Budget Officer” the words “and former Parliamentary Budget Officer, Kevin Page,”; and replacing the words “must necessarily take place before the study of the budget implementation bill begins” with the following “and the former Parliamentary Budget Officer be included as part of the committee’s upcoming studies on the budget implementation act”.
Debate arose thereon.
At 6:26 p.m., the meeting was suspended.
At 6:43 p.m., the meeting resumed.
The debate continued on the amendment by Ryan Turnbull.
At 7:42 p.m., the meeting was suspended.
At 7:47 p.m., the meeting resumed.
The debate continued on the amendment by Ryan Turnbull.
By unanimous consent, the amendment was withdrawn.
The debate on the motion continued.
Pat Kelly moved, — That the motion be amended by deleting the words “, given that, according to the Parliamentary Budget Officer's report, the projected deficit has more than doubled since the 2024 Fall Economic Statement, that the new spending measures transform what would have been a surplus operating balance into a deficit, that he considers that the overly broad definition of capital investments used by the government creates a major discrepancy with his estimates, that the lack of an objective definition of these investments directly influences budgetary decisions, and that the Parliamentary Budget Officer's stress tests indicate that it is unlikely that the government will meet its budgetary anchor of reducing the deficit-to-GDP ratio”; and by adding after the word “begins” the following: “; and that this testimony be considered part of the budget implementation act study”.
After debate, the question was put on the amendment of Pat Kelly and it was agreed to.
After debate, the question was put on the motion, as amended, and it was agreed to.
The motion, as amended, read as follows:
That the committee invite the Parliamentary Budget Officer as soon as possible, for a period of two hours, to examine the current budgetary situation, the methodology surrounding capital investments, and the government's ability to meet its financial commitments; that the testimony of the Parliamentary Budget Officer must necessarily take place before the study of the budget implementation bill begins; and that this testimony be considered part of the budget implementation act study.
At 7:52 p.m., the committee adjourned to the call of the Chair.