Michel Leduc made a statement and answered questions.

Jasraj Hallan moved, — That, given that:

i) Canadians are facing rising fuel costs that are increasing the cost of living for families and the cost of doing business across the country;

ii) higher global oil prices have resulted in significant additional revenues to the federal government, including increased income tax revenues from the oil and gas sector;

iii) every $10 increase in the price of a barrel of oil is estimated to generate approximately $2 billion in additional federal revenue;

iv) current oil prices remain substantially above pre-war levels, resulting in billions of dollars in additional annual federal revenues;

v) the federal government is therefore collecting more in additional revenue from higher oil prices than it would cost to provide relief to Canadians by suspending federal fuel taxes;

the committee recommend that the government immediately suspend all federal taxes on gasoline and diesel, including the federal fuel excise tax and the Goods and Services Tax, for the remainder of 2026;

the committee further recommend that the government eliminate the clean fuel standard charge and industrial carbon pricing as they apply to fuel costs; and

That the Chair report this to the House at the earliest opportunity.

Debate arose thereon.

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

YEAS: Sandra Cobena, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 4;

NAYS: Peter Fragiskatos, Jean-Denis Garon, Carlos Leitão, Kent MacDonald, Ryan Turnbull — 5.

Questioning of the witness resumed.

It was agreed, — That the committee meet, in an informal meeting, with the committee on Economic and Monetary Affairs of the European Parliament on Tuesday, May 26, 2026.