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.
For an advanced search, use Publication Search tool.
If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.
Minutes of Proceedings
The witnesses answered questions.
The committee commenced its clause-by-clause study of the Bill.
Pursuant to Standing Order 75(1), consideration of Clause 1 (short title) was postponed.
The Chair called Clause 2.
On Clause 2,
Jasraj Hallan moved, — That Bill C-30, in Clause 2, be amended by adding after line 2 on page 2 the following:“(4) Within six months after the day on which this section comes into force, the Minister of Labour in collaboration with the Minister of Finance must table a report in each House of Parliament, on any of the first fifteen days on which that House is sitting after the report is made, that includes:
(a) the expected number of tradespeople eligible for the labour mobility deduction as amended under this section;
(b) the average benefit received by eligible tradespeople under the modified labour mobility deduction; and
(c) the regional distribution of claims made under the modified labour mobility deduction.”
Debate arose thereon.
Jean-Denis Garon moved, — That the amendment be amended by replacing the words “Within six months after the day on which this section comes into force” with the words “Within thirty days after the government obtains the data”.
At 4:30 p.m., the meeting was suspended.
At 4:33 p.m., the meeting resumed.
By unanimous consent, Clause 2 was allowed to stand.
On Clause 3,
Pat Kelly moved, — That Bill C-30, in Clause 3, be amended by adding after line 14 on page 2 the following:“(2) Without delay after the day on which this section comes into force and every year after that, the Minister of National Revenue in collaboration with the Minister of Finance must publish a report in respect of the previous year on the number of qualifying business transfers that have resulted in a capital gains deduction.”
After debate, the question was put on the amendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Sandra Cobena, Jean-Denis Garon, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 3 carried on division.
On Clause 4,
Jasraj Hallan moved, — That Bill C-30, in Clause 4, be amended by adding after line 26 on page 2 the following:“(2) Without delay after the day on which this section comes into force and every year after that, the Minister of National Revenue in collaboration with the Minister of Finance must publish a report in respect of the previous year on the use of the deduction for qualifying cooperative conversions.”
After debate, the question was put on the amendment of Jasraj Hallan and it was negatived on the following recorded division:
YEAS: Sandra Cobena, Jean-Denis Garon, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 4 carried on division.
Clause 5 carried on division.
On Clause 6,
Pat Kelly moved, — That Bill C-30, in Clause 6, be amended by adding after line 10 on page 3 the following:“(3) Without delay after the day on which this section comes into force and every year after that, the Minister of National Revenue in collaboration with the Minister of Finance must, for the duration of the extended repayment grace period under the Home Buyers' Plan, publish a report on the number of Canadians affected by the Home Buyers’ Plan repayment grace period extension and on the estimated fiscal cost of that extension.”
Debate arose thereon.
Philip Lawrence moved, — That the amendment be amended by replacing the words “Without delay after the day on which this section comes into force and every year after that” with the words “Not later than two years after the end of each taxation year to which the extended repayment grace period under the Home Buyers’ Plan applies”.
By unanimous consent, Clause 6 was allowed to stand.
On Clause 7,
Pat Kelly moved, — That Bill C-30, in Clause 7, be amended by adding after line 25 on page 4 the following:“(6) Within one year after the day on which this section comes into force and every year after that, the Minister of National Revenue in collaboration with the Minister of Finance must publish a report on
(a) the number of taxpayers who claimed the special allowance allowing the immediate expensing for eligible greenhouse buildings;
(b) the fiscal cost of the eligible greenhouse special allowance; and
(c) the geographic distribution of eligible greenhouse special allowance claims.”
Debate arose thereon.
Philip Lawrence moved, — That the amendment be amended by replacing the words “Within one year after the day on which this section comes into force and every year after that” with the words “Not later than two years after the end of each taxation year to which the special allowance for eligible greenhouse buildings applies”.
By unanimous consent, Clause 7 was allowed to stand.
Clause 8 carried on division.
Clause 9 carried on division.
Clause 10 carried on division.
On Clause 11,
Ryan Turnbull moved, — That Bill C-30, in Clause 11, be amended by(a) replacing line 7 on page 7 with the following:
“tion gasoline, leaded aviation gasoline, diesel fuel or aviation fuel becomes payable”
(b) replacing lines 12 and 13 on page 7 with the following:
“read as a reference to “$ 0.00”;
(b) the reference to “ $ 0.11” in paragraph 9(b) is to be read as a reference to “$ 0.00”; and
(c) the reference to “$ 0.04” in section 9.1 is to be read”
Debate arose thereon.
Jasraj Hallan moved, — That the amendment be amended by adding after paragraph (a) the following:
“(a.1) replacing lines 8 and 9 on page 7 with the following:
“at a time that is after April 19, 2026 and ending December 31, 2026, the following rules apply in determining the””.
At 5:22 p.m., the meeting was suspended.
At 6:17 p.m., the meeting resumed.
After debate, the question was put on the subamendment of Jasraj Hallan and it was negatived on the following recorded division:
YEAS: Jasraj Hallan, Pat Kelly, Philip Lawrence, Arnold Viersen — 4;
NAYS: Jean-Denis Garon, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 7.
Philip Lawrence moved, — That the amendment be amended by adding after paragraph (c) the following:
“(d) adding after line 14 on page 7 the following: ‘(1.1) For the period beginning on April 20, 2026 and ending on September 7, 2026, no primary supplier, as defined in subsection 1(1) of the Clean Fuel Regulations, is required to satisfy a compliance obligation under those Regulations in respect of gasoline, diesel fuel, unleaded aviation gasoline, leaded aviation gasoline or aviation fuel. (1.2) For greater certainty, subsection (1.1) applies only in respect of fuel referred to in that subsection and only for the period during which the rate of tax in respect of that fuel is deemed to be $ 0.00 under this section.”.
The Chair ruled the proposed subamendment inadmissible because it was beyond the scope of the bill, as stated in section 16.74 of House of Commons Procedure and Practice, Fourth Edition.
(a) replacing line 7 on page 7 with the following:
“tion gasoline, leaded aviation gasoline, diesel fuel or aviation fuel becomes payable”
(b) replacing lines 12 and 13 on page 7 with the following:
“read as a reference to “$ 0.00”;
(b) the reference to “ $ 0.11” in paragraph 9(b) is to be read as a reference to “$ 0.00”; and
(c) the reference to “$ 0.04” in section 9.1 is to be read”
The question was put on the amendment of Ryan Turnbull and it was agreed to on division.
“(3) Within 30 days after September 7, 2026, the Minister of National Revenue, in collaboration with the Minister of Finance, must prepare a report on the application of this section and cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(4) The report must
(a) set out the impact of the application of this section, including on fuel prices, transportation costs, food prices, household expenses and inflation;
(b) include an assessment of the costs and benefits of extending the application of this section beyond September 7, 2026; and
(c) include an estimate of the fiscal impact of the application of this section.
(5) The Minister of National Revenue and the Minister of Finance must publish the report on the website of the Department of National Revenue and of the Department of Finance, respectively, within 10 days after the day on which the report is tabled in both Houses of Parliament.”
Debate arose thereon.
Pat Kelly moved, — That the amendment be amended by adding after paragraph 4(c) the following:
“(d) describe the methodology and data sources used to assess the impacts referred to in paragraphs (a) to (c).”.
At 6:57 p.m., the meeting was suspended.
At 7:30 p.m., the meeting resumed.
The question was put on the subamendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Jasraj Hallan, Pat Kelly, Philip Lawrence, Arnold Viersen — 4;
NAYS : Jean-Denis Garon, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 7.
The question was put on the amendment of Jasraj Hallan and it was negatived on the following recorded division:
YEAS: Jasraj Hallan, Pat Kelly, Philip Lawrence, Arnold Viersen — 4;
NAYS: Jean-Denis Garon, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 7.
Clause 11, as amended, carried on division.
Clause 12 carried on division.
Clause 13 carried on division.
Clause 14 carried on division.
Clause 15 carried on division.
On new Clause 15.1,
Philip Lawrence moved, — That Bill C-30 be amended by adding after line 37 on page 8 the following new clause:“Review and Report
15.1 (1) Within six months after the day on which this Act receives royal assent, and once a year for the two following years, the Minister of National Revenue in collaboration with the Minister of Finance must undertake a comprehensive review of the operation of sections 12 to 15 of this Act and table a report on the review in each House of Parliament on any of the first fifteen days on which that House is sitting after the report is completed.
(2) The report must include
(a) an estimate of the fiscal impact of the application of the sections referred to in subsection (1) and;
(b) an assessment of the impact of those sections on domestic alcohol producers, including on small and medium-sized brewers.
(3) The Minister of National Revenue and the Minister of Finance must publish the report on the website of the Department of National Revenue and of the Department of Finance, respectively, within 10 days after the day on which the report has been tabled in both Houses of Parliament.”
Debate arose thereon.
Pat Kelly moved, — That the amendment be amended by adding after paragraph 2(b) the following:
“(c) a summary of any publicly available data used to prepare the assessment referred to in paragraph (b).”.
At 7:47 p.m., the meeting was suspended.
At 8:00 p.m., the meeting resumed.
After debate, the question was put on the subamendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Vincent Neil Ho, Pat Kelly, Philip Lawrence, Matt Strauss — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
After debate, the question was put on the amendment of Jasraj Hallan and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Vincent Neil Ho, Pat Kelly, Philip Lawrence, Matt Strauss — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 16 carried on division.
Clause 17 carried on division.
Clause 18 carried on division.
On new Clause 18.1,
Philip Lawrence moved, — That Bill C-30 be amended by adding after line 25 on page 11 the following new clause:“Annual Report
18.1 Within one year after the day on which this Division comes into force and every year after that, the Minister of Finance must publish a report on
(a) the investments exempted from the application of the Investment Canada Act as a result of the provisions enacted by this Division; and
(b) the number and type of foreign bank-related investments affected by the provisions enacted by this Division.”
After debate, the question was put on the amendment of Philip Lawrence and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Vincent Neil Ho, Pat Kelly, Philip Lawrence — 4;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 19 carried on division.
Clause 20 carried on division.
On Clause 21,
Pat Kelly moved, — That Bill C-30, in Clause 21, be amended by adding after line 23 on page 15 the following:“30.51 The Bank must, every year, publish a report that includes the following information:
(a) the assessment fees collected from entities subject to assessment fees under this Act;
(b) the administrative costs associated with the entities subject to assessment fees under this Act;
(c) service standards and annual performance against those standards for activities funded through assessment fees; and
(d) internal audits completed in relation to cost recovery activities.”
Debate arose thereon.
Philip Lawrence moved, — That the amendment be amended by adding after paragraph (d) the following:
“(e) any material changes to the methodology used to calculate assessment fees.”.
At 8:32 p.m., the meeting was suspended.
At 8:45 p.m., the meeting resumed.
After debate, the question was put on the subamendment of Philip Lawrence and it was negatived on the following recorded division:
YEAS: Vincent Neil Ho, Grant Jackson, Philip Lawrence — 3;
NAYS: Pat Kelly, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 7.
The question was put on the amendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Sandra Cobena, Jean-Denis Garon, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 21 carried on division.
By unanimous consent, Clauses 22 to 36 inclusive carried on division severally.
On Clause 37,
Pat Kelly moved, — That Bill C-30, in Clause 37, be amended by adding after line 13 on page 20 the following:“(3) Within 30 days after the end of each fiscal year, the Minister must prepare, in collaboration with the Association, a report that sets out an overview of any complaints received for which liability as referred to in subsection (1) could be invoked and any cases in which immunity from such liability was invoked.
(4) The Minister must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.”
After debate, the question was put on the amendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Vincent Neil Ho, Grant Jackson, Pat Kelly, Philip Lawrence — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 37 carried on division.
On Clause 38,
Pat Kelly moved, — That Bill C-30, in Clause 38, be amended by adding after line 3 on page 21 the following:“(5) Section 12 of the Act is amended by adding the following after subsection (2.3):
(2.31) Within 30 days after the end of each fiscal year, the Minister must prepare a report that sets out
(a) the number of seasonal workers in respect of whom the maximum number of weeks for which benefits may be paid in a benefit period was increased in that fiscal year;
(b) the regional distribution of those workers; and
(c) the impact on the labour market of the increased number of weeks of benefits.
(2.32) The Minister must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.”
Debate arose thereon.
At 9:08 p.m., the meeting was suspended.
At 9:09 p.m., the meeting resumed.
Jasraj Hallan moved, — That the amendment be amended by adding after paragraph c) the following:
“(d) the sources of data relied on by the Minister in preparing the report.”.
The question was put on the subamendment of Jasraj Hallan and it was negatived on the following recorded division:
YEAS: Jasraj Hallan, Grant Jackson, Pat Kelly, Philip Lawrence — 4;
NAYS : Jean-Denis Garon, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 7.
At 9:11 p.m., the meeting was suspended.
At 9:24 p.m., the meeting resumed.
Grant Jackson moved, — That the amendment be amended by replacing paragraph (c) of subsection (2.31) with the following:
“(c) the impact on the labour market of the increased number of weeks of benefits; and (d) the sources of data relied on by the Minister in preparing the report.”.
The Chair ruled the proposed subamendment inadmissible because it was beyond the scope of the bill, as stated in section 16.74 of House of Commons Procedure and Practice, Fourth Edition.
The question was put on the amendment of Pat Kelly and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Jasraj Hallan, Grant Jackson, Pat Kelly, Philip Lawrence — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
Clause 38 carried on division.
Clause 39 carried on division.
On Clause 40,
Pat Kelly moved, — That Bill C-30, in Clause 40, be amended by replacing line 9 on page 21 with the following:“nor in Council, which day must not be earlier than the day on which the Minister of Employment and Social Development tables a report in each House of Parliament on the application of paragraph 12(2.3)(b) of the Employment Insurance Act during the 12-month period ending on March 31 of the year in which the report is to be tabled.”
The Chair ruled the proposed amendment inadmissible because it sought to attach a condition to the coming into force clause, as provided in section 16.81 of House of Commons Procedure and Practice, Fourth Edition.
Whereupon, Jasraj Hallan appealed the decision of the Chair.
The question: "Shall the decision of the Chair be sustained?" was put and the decision was sustained on the following recorded division:
YEAS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6;
NAYS: Sandra Cobena, Jean-Denis Garon, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 5.
Clause 40 carried on division.
Clause 41 carried on division.
Clause 42 carried on division.
Clause 43 carried on division.
On new Clause 43.1,
Pat Kelly moved, — That Bill C-30 be amended by adding after line 18 on page 22 the following new clause:“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Debate arose thereon.
At 10:01 p.m., the meeting was suspended.
At 10:01 a.m., on Tuesday, June 9, 2026, the meeting resumed.
The committee resumed its clause-by-clause study of the Bill.
The committee resumed clause-by-clause consideration on new Clause 43.1 of the Bill.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Philip Lawrence moved, — That the amendment be amended by adding after proposed subsection 43.1(1) the following:
“(1.1) Within three months after the day on which Statistics Canada publishes data indicating that Canada has entered a technical recession, defined as two consecutive quarters of decline in real gross domestic product, the Minister of Finance must prepare a report on the impact of the technical recession on the financial state of the Canada Pension Plan, including its projected contribution revenues, benefit expenditures, investment income, asset levels and long-term sustainability.
(1.2) The Minister of Finance must cause the report prepared under subsection (1.1) to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(1.3) The Minister of Finance must publish the report prepared under subsection (1.1) on the website of the Department of Finance within 10 days after the day on which the report has been tabled in both Houses of Parliament.”.
The Chair ruled the proposed subamendment inadmissible because it was beyond the scope of the bill, as stated in section 16.74 of House of Commons Procedure and Practice, Fourth Edition.
At 10:17 a.m., the meeting was suspended.
At 10:28 a.m., the meeting resumed.
At 10:34 a.m., the meeting was suspended.
At 11:23 a.m., the meeting resumed.
Grant Jackson moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include a plain-language explanation of what it means for the Canada Pension Plan to be sustainable, including whether projected benefits can be paid in full under the current legislation and the distinction between annual cash-flow deficits and actuarial insolvency.”.
At 11:25 a.m., the meeting was suspended.
At 11:50 a.m., the meeting resumed.
At 11:50 a.m., the meeting was suspended.
At 12:40 p.m., the meeting resumed.
The committee resumed consideration of the subamendment of Grant Jackson, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include a plain-language explanation of what it means for the Canada Pension Plan to be sustainable, including whether projected benefits can be paid in full under the current legislation and the distinction between annual cash-flow deficits and actuarial insolvency.”.
The question was put on the subamendment of Grant Jackson and it was negatived on the following recorded division:
YEAS: Grant Jackson, Pat Kelly, Philip Lawrence, Andrew Lawton — 4;
NAYS : Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Andrew Lawton moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include stress-test scenarios showing the projected financial state of the Canada Pension Plan if investment returns are lower than expected, immigration levels are lower than expected, productivity and wage growth are lower than expected, life expectancy is higher than expected or Canada experiences a prolonged economic downturn.”.
At 1:15 p.m., the meeting was suspended.
At 1:35 p.m., the meeting resumed.
The committee resumed consideration of the subamendment of Andrew Lawton, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include stress-test scenarios showing the projected financial state of the Canada Pension Plan if investment returns are lower than expected, immigration levels are lower than expected, productivity and wage growth are lower than expected, life expectancy is higher than expected or Canada experiences a prolonged economic downturn.”.
Andrew Lawton moved, — That the meeting be suspended for question period.
The question was put on the motion and it was negatived on the following recorded division:
YEAS: Jean-Denis Garon, Grant Jackson, Pat Kelly, Philip Lawrence, Andrew Lawton — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
The committee resumed consideration of the subamendment of Andrew Lawton, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include stress-test scenarios showing the projected financial state of the Canada Pension Plan if investment returns are lower than expected, immigration levels are lower than expected, productivity and wage growth are lower than expected, life expectancy is higher than expected or Canada experiences a prolonged economic downturn.”.
Philip Lawrence moved, — That the meeting be suspended for question period.
The question was put on the motion and it was negatived on the following recorded division:
YEAS: Sandra Cobena, Jean-Denis Garon, Jasraj Hallan, Pat Kelly, Eric Lefebvre — 5;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
The committee resumed consideration of the subamendment of Andrew Lawton, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include stress-test scenarios showing the projected financial state of the Canada Pension Plan if investment returns are lower than expected, immigration levels are lower than expected, productivity and wage growth are lower than expected, life expectancy is higher than expected or Canada experiences a prolonged economic downturn.”.
The question was put on the subamendment of Andrew Lawton and it was negatived on the following recorded division:
YEAS: Grant Jackson, Pat Kelly, Philip Lawrence, Andrew Lawton — 4;
NAYS : Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Grant Jackson moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include, to the extent that the information is available, an assessment of the impact of the amendments to the Canada Pension Plan contained in this Division on current retirees, near-retirees, Generation X, Millennials and Generation Z, including estimated lifetime contributions, estimated lifetime benefits and the impact of the reduction in contribution rates beginning in 2027.”.
At 2:18 p.m., the meeting was suspended.
At 2:45 p.m., the meeting resumed.
At 3:02 p.m., the meeting was suspended.
At 3:50 p.m., the meeting resumed.
The question was put on the subamendment of Grant Jackson and it was negatived on the following recorded division:
YEAS: Laila Goodridge, Vincent Neil Ho, Philip Lawrence, Andrew Lawton — 4;
NAYS : Emma Harrison, Marie-France Lalonde, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin — 6.
Andrew Lawton moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include a comparison between the Canada Pension Plan and public or mandatory pension systems in other jurisdictions, including the United States, Australia and Sweden, with respect to funding levels, advance funding, reliance on investment income and the long-term financing of promised benefits.”.
At 4:42 p.m., the meeting was suspended.
At 4:59 p.m., the meeting resumed.
The question was put on the subamendment of Andrew Lawton and it was negatived on the following recorded division:
YEAS: Grant Jackson, Michael Kram, Philip Lawrence, Shuvaloy Majumdar — 4;
NAYS : John-Paul Danko, Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky — 6.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Philip Lawrence moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include an explanation of the minimum contribution rate required to sustain the Canada Pension Plan, the difference between that rate and the statutory contribution rate, the margin of safety provided by that difference and the circumstances under which future contribution-rate increases could become necessary.”.
At 6:03 p.m., the meeting was suspended.
At 6:19 p.m., the meeting resumed.
After debate, the question was put on the subamendment of Philip Lawrence and it was negatived on the following recorded division:
YEAS: Grant Jackson, Pat Kelly, Philip Lawrence, Matt Strauss — 4;
NAYS: Steeve Lavoie, Carlos Leitão, Kent MacDonald, Danielle Martin, Jake Sawatzky, Ryan Turnbull — 6.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
Philip Lawrence moved, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include projected Canada Pension Plan assets in both nominal and inflation-adjusted dollars and must include, to the extent that the information is available, projected assets per contributor and projected assets per beneficiary.”.
At 6:41 p.m., the meeting was suspended.
At 6:56 p.m., the meeting resumed.
At 8:18 p.m., the meeting was suspended.
At 7:37 a.m., on Wednesday, June 10, 2026, the meeting resumed.
The committee resumed its clause-by-clause study of the Bill.
The committee resumed clause-by-clause consideration on new Clause 43.1 of the Bill.
“Reports to Parliament
43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.
(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.
The committee resumed consideration of the subamendment of Philip Lawrence, — That the amendment be amended by adding after subsection 43.1(1) the following:
“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include projected Canada Pension Plan assets in both nominal and inflation-adjusted dollars and must include, to the extent that the information is available, projected assets per contributor and projected assets per beneficiary.”.
At 7:41 a.m., the meeting was suspended.
At 8:14 a.m., the meeting resumed.
At 8:34 a.m., the meeting was suspended.
At 9:25 a.m., the meeting resumed.
At 9:26 a.m., the committee adjourned to the call of the Chair.