The committee commenced consideration of a draft report.

At 3:43 p.m., the sitting was suspended.

At 4:09 p.m., the sitting resumed.

At 4:21 p.m., the sitting was suspended.

At 11:00 a.m., on Tuesday, January 30, 2024, the sitting resumed.

The committee resumed consideration of a draft report.

It was agreed, — That the committee proceed to committee business.

At 11:10 a.m., the sitting was suspended.

At 11:23 a.m., the sitting resumed.

At 11:28 a.m., the sitting was suspended.

At 11:30 a.m., the sitting resumed.

It was agreed, — That the committee invite the Governor of the Bank of Canada to appear on Thursday, February 1, 2024, from 11:30 a.m. to 1:00 p.m.

At 11:34 a.m., the sitting was suspended.

At 12:40 p.m., the sitting resumed.

At 12:40 p.m., the sitting was suspended.

At 12:48 p.m., the sitting resumed.

It was agreed, — As relates to the committee’s future business:

(a) The committee dedicate its Thursday February 1st, 2024, meeting to hearing testimony from the Bank of Canada, for the purposes of the committee’s study of the report of the Bank of Canada on monetary policy;

(b)The committee dedicate its regular meetings on February 6th and 8th, 2024, to consideration of its draft report on Pre-Budget Consultations in advance of the 2024 Budget and that should the Pre-Budget Consultation draft report be finalized before February 8th, the February 8th meeting be dedicated to the Statutory Review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act;

(c) The committee dedicate its regular meetings on February 13th and 15th, 2024, to the committee’s study on Policy Decisions and Market Forces that have led to Increases in the Cost of Buying or Renting a Home in Canada;

(d) The motion put on notice by Mr. Baker, on January 30th, 2024, be deemed moved and adopted; that the committee dedicate its meeting on February 27th, 2024, to the hearing of witnesses on this study;

(e) the Chair schedule meetings to initiate a pre-study on the Act to implement certain provisions of the fall Economic Statement; that all evidence gathered as part of the pre-study be considered as evidence in the committee’s full study of the bill, once referred to committee and that the Officials appear within the first week of the pre-study and Minister of Finance appear the following meeting for not less than 2 hours;

(f) Notwithstanding the above, should Bill C-59 be referred to committee, it be deemed the priority of the committee.

It was agreed, — That the Standing Committee on Finance undertake a study of:

a) Claims by non-prime lending companies that proposed changes to the criminal rate of interest to place it at a rate more than 6 times higher than that of major banks would cut low-income Canadians off from loans;

b) The impact the proposed changes would have on Canadians’ loan payments; and,

c) The impact the proposed changes would have on profit margins of these non-prime lending companies;

That this study include testimony from Jason Mullins, president and chief executive officer of goeasy Ltd. and vice-chair of the Canadian Lenders Association, ACORN Canada, Prosper Canada and the Canadian Centre for Policy Alternatives;

That no fewer than two hours be dedicated to gathering testimony for the purposes of this study.