Finance

This Canadian parliamentary committee meeting focused on proposed law C-31, which deals with various financial matters. The committee heard from three different groups in the first hour, discussing a proposed visitor tax refund, challenges faced by duty-free shops, and improvements to tax filing and business investment. The second hour focused on the aerospace and manufacturing industries, and changes to pesticide regulations. In the first hour, Jean-Christophe Bédos from the Alliance for a Visitor Tax Refund suggested reinstating a tax refund for international tourists on retail purchases. He argued this would attract more visitors, increase spending, and create jobs, citing studies that show a net positive financial impact for Canada. Tania Lee from the Frontier Duty Free Association highlighted the struggles of border duty-free shops due to trade disputes and asked for consistent tax treatment for their export-only products, specifically regarding excise tax on tobacco. Heather Scoffield from the Canadian Tax Observatory discussed the importance of automatic tax filing for low-income individuals to ensure they receive federal benefits, and also talked about immediate expensing for businesses to boost productivity. She emphasized the need for a "human touch" alongside automation and better data sharing between federal and provincial governments. In the second hour, Mike Mueller from the Aerospace Industries Association of Canada spoke about the need for an efficient Defence Investment Agency and a broader aerospace industrial strategy, not just a defence strategy, to support the dual-use nature of the industry. He also raised concerns about security clearance delays. Alan Arcand from Canadian Manufacturers and Exporters discussed the investment gap between Canada and the U.S., highlighting the impact of tax policy and regulations. He welcomed the permanent immediate expensing measure for manufacturing equipment but suggested making it permanent for buildings too. Pierre Petelle from CropLife Canada supported proposed changes to pesticide regulations, moving from automatic time-based reviews to a more targeted, science- and risk-based approach, which he believes will reduce backlogs without compromising safety. He clarified that this is about modernizing the process, not eliminating oversight. Committee members asked questions about the financial impact of a visitor tax refund, the implementation of automatic tax filing, the challenges faced by duty-free shops, and the effectiveness of defence procurement reforms. There was also discussion about the need for a comprehensive aerospace industrial strategy and the impact of regulatory burdens on the manufacturing and agriculture sectors. No specific decisions were made during this meeting, but the discussions highlighted areas for potential improvement and further consideration regarding proposed law C-31 and related economic policies.

This Canadian parliamentary committee meeting, the 51st for the Finance (FINA) committee, focused on two proposed laws: Bill C-31 and Bill C-38. The first part of the meeting discussed Bill C-31, which aims to implement parts of the November 2025 budget. The second part of the meeting focused on Bill C-38, which proposes to extend the temporary suspension of the federal fuel excise tax. Key speakers included the Minister of Finance, François-Philippe Champagne, who highlighted that Bill C-31 includes measures to make life more affordable, strengthen the economy, and attract investment. He mentioned the Canada groceries and essentials benefit and a "productivity superdeduction" for businesses. For Bill C-38, he emphasized that extending the fuel tax suspension would provide immediate relief to Canadians and support various sectors like trucking and agriculture, costing about $5.3 billion. Opposition committee members, particularly Jasraj Hallan and Tamara Jansen, questioned the effectiveness and fairness of these measures, raising concerns about the Canada Revenue Agency's expanded powers, the lack of transparency in government accounting, and whether tax breaks truly benefit struggling families and small businesses. Witnesses were also invited to share their perspectives. Professor Antoine Genest-Grégoire argued against extending the fuel tax holiday, stating it's a poorly targeted measure that disproportionately benefits wealthier individuals and risks becoming permanent. He suggested that direct payments like the Canada groceries and essentials benefit are more effective. Professor Shiu-Yik Au discussed the long-term disruptions in energy markets, suggesting that the current tax relief might end prematurely given the time it takes for global supply chains to normalize. The Canadian Taxpayers Federation, represented by Noah Jarvis and Nicolas Gagnon, advocated for making the gas tax cut permanent, arguing it's the simplest way to make life more affordable and that the government should cut wasteful spending instead of reinstating taxes. During the meeting, a Conservative committee member proposed an amendment to Bill C-38 to extend the full suspension of the federal fuel excise tax until July 1, 2027, instead of the proposed January 31, 2027. This amendment was voted on and rejected. The committee then proceeded to consider other clauses of Bill C-38.

The Finance Committee met to discuss and vote on a proposed law, Bill C-30, which puts into action parts of the government's spring economic update. A big part of the discussion focused on new rules about pesticides. Committee members first approved a small request for money to help study the proposed law. Then, Ryan Turnbull, a Liberal committee member, asked for and received permission for Elizabeth May, a Green Party member, to speak about her concerns. Elizabeth May spoke for a long time about a section of Bill C-30 (called Division 8) that deals with pesticides. She believes this section is very bad because it would allow the government to put economic reasons ahead of human health and environmental safety when deciding if a pesticide is safe to use. She explained that this could lead to dangerous pesticides being used for many years. She also presented several changes she wanted to make to the proposed law to protect health and the environment, and she mentioned that many health and environmental groups shared her worries. Other committee members also participated. Jasraj Hallan, a Conservative member, announced that his party was withdrawing all their proposed changes to Bill C-30. Jean-Denis Garon, from the Bloc Québécois, asked for recorded votes on several parts of the proposed law. After much discussion and voting, most of Elizabeth May's proposed changes were not accepted, but some changes proposed by Liberal members were approved. In the end, the committee voted to approve Bill C-30 with the accepted changes. This means the proposed law will now be sent to the House of Commons for more discussion. The Chair also reminded everyone about a deadline for submitting ideas for the 2026 budget.

The Finance Committee held pre-budget consultations for the upcoming 2026 budget, gathering recommendations from various organizations and individuals on a wide range of topics, from Indigenous priorities to economic development and environmental concerns.

This committee meeting was a long discussion about changes to the Canada Pension Plan (CPP) and how information about it should be shared with Canadians. Committee members spent many hours debating a proposed law that would reduce how much people pay into the CPP, and they focused on making sure everyone understands these changes. Philip Lawrence and Tamara Kronis, both Conservative committee members, questioned a government official, Justin Stuart, about the CPP's financial health. Mr. Stuart explained that the CPP is expected to be financially sound for the next 75 years, with inflation already considered in its reports. However, he couldn't give simple, on-the-spot explanations for complex financial calculations, as he wasn't the person who wrote the main reports. The Conservative members argued that the official reports are too complicated and that Canadians need clearer, simpler information. Conservative members proposed several changes, called subamendments, to the proposed law. These changes aimed to make sure future reports on the CPP would include easy-to-understand examples. For instance, one subamendment asked for examples showing how the reduction in CPP payments would affect employees, employers, and self-employed people at different income levels, like those earning $50,000 or $70,000 a year. They argued this would provide real transparency, not just more paperwork, and help Canadians see the actual impact on their wallets. Liberal committee members, including Ryan Turnbull, expressed frustration, saying the Conservatives were deliberately slowing down the meeting. They argued that the government already provides detailed reports on the CPP and that the proposed changes were unnecessary and repetitive. They believed the Conservatives were wasting time and resources, preventing the committee from moving forward with the proposed law. During the meeting, one proposed change (subamendment 7) was voted down. Another proposed change (subamendment 8), which asked for clear examples of how CPP changes affect different incomes, was still being discussed when a Liberal member moved to end the meeting, and it was adjourned.

This Canadian parliamentary committee meeting was about reviewing a proposed law, Bill C-30, which aims to put into action parts of the spring economic update. The committee focused on going through the proposed law section by section, considering changes suggested by committee members. Key speakers included the Chair, Karina Gould, who guided the discussion and explained the rules for making changes. Conservative committee members Jasraj Hallan, Pat Kelly, Philip Lawrence, Eric Lefebvre, Arnold Viersen, Vincent Ho, Grant Jackson, and Andrew Lawton proposed several changes. They mainly wanted more reports and data from the government to show how well new programs were working and to increase transparency. They asked for reports on things like how many tradespeople use a certain tax deduction, the number of business transfers, the use of deductions for co-operative businesses, and the impact of changes to the Home Buyers' Plan and the Canada Pension Plan. They also wanted to know the costs and benefits of extending a fuel tax break. Liberal committee members Ryan Turnbull, Carlos Leitão, Jake Sawatzky, and Danielle Martin generally opposed these changes. They argued that much of the requested information was already available in other government reports, that the timelines for new reports were unrealistic, or that the changes would create unnecessary extra work and costs for government departments like the Canada Revenue Agency. They also pointed out that some proposed changes were outside the scope of the proposed law or would increase government spending, which they felt was inconsistent with the Conservatives' stated goals. No major decisions were made on the proposed changes during this part of the meeting, as most of the Conservative amendments were voted down. However, one technical amendment proposed by the Liberals regarding the fuel excise suspension was agreed to. The committee spent a lot of time debating the need for more transparency and accountability versus avoiding duplication and extra government costs. Several times, the meeting was paused to allow for the translation of proposed changes, which caused delays and frustration among committee members.

This committee meeting focused on the proposed law C-30, which aims to implement parts of the spring economic update. The discussion covered various topics, including the challenges faced by small businesses, the need for affordable housing for people with disabilities, and investments in skilled trades and infrastructure. Key speakers included Jasmin Guénette from the Canadian Federation of Independent Business (CFIB), who highlighted an "entrepreneurial drought" in Canada, with more businesses closing than opening in several sectors. He recommended reducing the small business tax rate and increasing the tax deduction limit. Gary Gladstone from the Intentional Community Consortium spoke about the severe housing crisis for people with developmental disabilities and called for dedicated federal funding for accessible and supportive homes. Steven Schumann from the International Union of Operating Engineers strongly supported the proposed law's measures for skilled trades and apprenticeships, emphasizing their importance for building Canada's infrastructure and providing good jobs. The Minister of Finance, François-Philippe Champagne, also appeared, defending the government's economic update and the proposed law. He highlighted measures such as the temporary suspension of the federal fuel excise tax, the cap on excise tax for alcoholic beverages, and the extension of the Home Buyers' Plan grace period. He also emphasized the government's focus on building a strong and resilient economy and supporting Canadians through affordability challenges. Committee members raised concerns about the state of the Canadian economy, the national debt, and the transparency of new government funds. Later, the Minister of Transport, Steven MacKinnon, discussed a measure in the proposed law that would allow the Minister of Transport to request information from airport owners and operators. He stated this is necessary for evidence-based decision-making and to understand different airport ownership models. Concerns were raised by committee members about the scope of this measure and the potential for airport privatization. No specific decisions were made during this meeting, but the discussions will inform the committee's ongoing consideration of the proposed law.

This meeting of the Finance committee focused on pre-budget consultations for 2026, hearing from various organizations and individuals about their recommendations for the upcoming federal budget. The discussions covered a wide range of topics, including economic development, taxation, housing, and public safety. Key speakers included economics professors Frédéric Laurin and Luc Godbout, who offered insights on regional development funding and tax policy, respectively. Mr. Laurin proposed a more proactive, on-the-ground approach to support small and medium-sized businesses, emphasizing the need for better coordination of existing programs and more flexible funding for collective projects. Professor Godbout presented several recommendations, such as defining a clearer fiscal framework, establishing a debt anchor, and reconsidering the federal fuel excise tax exemption. He also suggested ways to increase affordable rental housing supply and rethink international taxation. Representatives from Quebec's business federations, Michelle LLambías Meunier of the Conseil du patronat du Québec and Mathieu Lavigne of the Fédération des chambres de commerce du Québec, highlighted the need to strengthen the business environment, stimulate investment, and increase productivity. They called for reduced red tape, competitive taxation, and increased support for exports and strategic sectors. Labour unions, including the Confédération des syndicats nationaux (CSN) and the Fédération des travailleurs et travailleuses du Québec (FTQ), focused on social inequality, the need for a strong industrial policy, and employment insurance reform. They also advocated for a public drug insurance plan and increased investment in social and community housing. Other speakers included Brian Sauvé from the National Police Federation, who emphasized the need for a public safety procurement secretariat and increased RCMP personnel, and Lana Payne from Unifor, who called for worker-centred industrial strategies and strengthening of labour rights. Housing advocates Chris Finkbiner from Indwell Community Homes and Angus Knowles from Options for Homes stressed the urgency of addressing homelessness and increasing affordable housing supply, particularly for essential workers. Finally, Éric Pineault, an economics professor, proposed a temporary special tax on oil companies' excess profits, while Emily Holtby from AIA Canada and Alan Arcand from Canadian Manufacturers and Exporters discussed the 'right to repair' and the need to address the skilled labour shortage and weak business investment in Canada.

This meeting of the Finance Committee was primarily about a proposed law, Bill C-30, which aims to put into action parts of the government's recent economic update. The committee heard from various government officials and ministers about changes related to food security, economic factors in decision-making, and support for skilled trades and people with disabilities. There was also discussion about the government's economic policies and the state of the Canadian economy. Key speakers included officials from the Canadian Food Inspection Agency (CFIA) and Health Canada. Jay Holmes from the CFIA explained that Bill C-30 would formally include food security and economic factors in the CFIA's mandate, meaning they would consider these aspects when making decisions, in addition to animal health, plant health, and food safety. Shannon Laforce from Health Canada discussed similar changes for pesticide regulation, emphasizing that health and environmental safety remain the top priorities. Conservative committee members, Jasraj Hallan and John Barlow, questioned the lack of clear definitions for terms like "food security" and "economic security" in the proposed law, and expressed concerns about accountability and the impact on farmers. They also raised questions about the effectiveness of certain government programs and the state of the economy. Ministers Heath MacDonald (Agriculture and Agri-Food) and Marjorie Michel (Health) also spoke. Minister MacDonald highlighted the importance of an economic perspective in agricultural decisions and the need for efficient regulations to help farmers compete. He also mentioned investments in agritech innovation and a national food security strategy. Minister Michel emphasized the health sector's economic contribution and the need to reduce administrative burdens while ensuring food safety. She also defended the proposed changes to allow temporary pesticide use in emergencies, stating it would only happen if human health was not at risk. Both ministers faced questions about their departments' policies and spending, with opposition members expressing skepticism about the effectiveness of some initiatives and the government's economic performance. Patty Hajdu, Minister of Jobs and Families, discussed the government's plan to address skilled worker shortages through a $6-billion initiative to recruit and train 100,000 new Red Seal workers. This includes financial support for apprentices and a completion bonus. Conservative committee members, Garnett Genuis and Kyle Seeback, criticized the government for previously cancelling similar apprenticeship grants and raised concerns about job losses in the construction sector and the number of temporary foreign workers. Minister Hajdu defended the new investments, stating they were designed with input from unions and employers. The committee also heard from organizations representing people with disabilities, who welcomed proposed changes to the disability tax credit that would simplify the application process and make it easier to access, especially for those with lifelong conditions. However, they also advocated for a broader reform of how disability is defined and supported outside of the tax system.

The committee held pre-budget consultations for the 2026 budget, hearing from various groups about their needs and recommendations. The discussions covered a wide range of topics, including strengthening the charity sector, improving mental and physical health care, fostering technological innovation, and addressing food insecurity across Canada. Several organizations spoke about the challenges facing the charity sector. John Hallward from GIV3 proposed a new national social sector fund, financed by redirecting a small portion of money that large charitable foundations are already required to give out. Bruce MacDonald from Imagine Canada highlighted that the non-profit sector is key to Canada's economy but is struggling with rising demand and complex government rules. He asked for simpler reporting and longer funding terms. Kevin Muir from YMCA Canada and Aline Nizigama from YWCA Canada focused on the need for more investment in child care, community buildings, and youth employment, and also in housing and safety for women. Later, health organizations presented. Dr. Margot Burnell from the Canadian Medical Association called for better digital health tools, a national plan for primary care, and easier disability tax credit forms. Sarah Kennell and Jonny Morris from the Canadian Mental Health Association asked for continued federal funding for mental health services, noting that many services are not covered by public health care. Kenton Boston from the Canadian Men's Health Foundation emphasized early help for young men's mental health and addressing online harms. Dr. Sarah Giles from the Society of Rural Physicians of Canada highlighted the severe doctor shortage and infrastructure problems in rural and Indigenous communities, asking for more training and a national strategy. In the technology and finance session, Helen Alexandra Hayes suggested investing in public discussions about artificial intelligence (AI) to build trust. Céline Bak explained that Canadian small and medium-sized businesses (SMEs) struggle to get loans, with much Canadian investment going to the U.S. She proposed a plan to help these businesses access more private loans. Daniel Perry from the Council of Canadian Innovators urged the government to use its buying power to support Canadian technology companies and help them grow. Adriana Vega from Fintechs Canada called for faster changes to financial rules to increase competition and make it easier for new financial technology companies to operate. Finally, groups focused on food insecurity. Judith Barry from the Breakfast Club of Canada asked for more funding for the national school food program, noting its positive impact on children and the economy. Melissa Secord from Celiac Canada recommended a simpler, refundable tax credit for people with celiac disease, as gluten-free food is very expensive. Neil Hetherington from the Daily Bread Food Bank reported a huge increase in people needing food, especially working individuals, and suggested a federal tax credit for low-income renters. Jasmine Ramze Rezaee from Right to Food emphasized that food insecurity is mainly an income problem and called for a national goal to cut hunger in half, along with better income support programs. No specific decisions were made during this consultation meeting, as it was for gathering information for the upcoming budget. However, common themes emerged, such as the need for increased and stable funding for essential services, simplified government processes, and targeted support for vulnerable populations. The committee members listened to the recommendations, which will inform their advice for the 2026 budget.

The committee met to gather ideas for the upcoming 2026 federal budget, hearing from various groups about their needs and suggestions for government spending and rule changes. Several industry groups presented their requests. The Aerospace Industries Association of Canada asked for a federal plan for their industry, better government buying processes, and stable funding for Transport Canada to approve new aircraft. The Alberta Cattle Feeders' Association wanted to keep trade with the U.S. open, update farm insurance programs, and make it easier for foreign workers to get permanent residency for year-round farm jobs. They also raised concerns about a proposed trade deal with South American countries. The Canadian Institute of Steel Construction asked the government to double a special tax on imported steel to protect Canadian jobs and apply the "buy Canadian" policy to all government projects. The Helium Developers Association of Canada highlighted helium's importance for high-tech uses and asked for tax changes to encourage investment in Canada's helium supply. Other groups focused on the clean economy and community needs. CVW Sustainable Royalties Inc. proposed changes to tax credits to support technology that cleans up oil sands waste, recovers valuable minerals, and reduces pollution. New Economy Canada and The Transition Accelerator both stressed the need for major investments in Canada's electricity system, asking for clean energy tax credits to be extended and simplified. StormFisher Hydrogen also requested changes to clean hydrogen tax credits to include more products and recognize provinces with very clean electricity grids. The Canadian Craft Brewers Association asked for changes to how beer is taxed, allowing craft breweries to grow larger before facing the highest tax rates. The Conseil québécois du commerce du détail raised concerns about "ultra-fast fashion" companies selling cheap goods online without following Canadian rules, asking for a legal definition and more inspections. Finally, the Federation of Canadian Municipalities asked for more federal money for local infrastructure, especially for housing and ending homelessness. The Union des producteurs agricoles called for more government support for farming, including better risk management programs, more funding for agricultural research, and tax changes to help small farms and farm succession. No decisions were made during this meeting, as it was part of the process for gathering information for the 2026 budget. The committee will consider these recommendations as they prepare the upcoming budget, and committee members were reminded that a proposed law, Bill C-30, will be studied next week.

The Finance committee met to hear recommendations for the upcoming 2026 federal budget, covering topics from housing and economic policy to financial services and the auto industry. At the start of the meeting, committee members approved a budget request for their pre-budget consultations and agreed to host an informal meeting with European Parliament members. They also took a moment to congratulate committee members Eric Lefebvre and Pat Kelly on becoming grandfathers. The first group of speakers focused on housing. Tim Ross from the Co-operative Housing Federation of Canada asked for renewed rental assistance for co-ops and more investment in Indigenous housing, emphasizing the need for predictable funding. Alana Lavoie from Habitat for Humanity Canada called for clear targets for the Build Canada Homes program and a long-term national housing strategy. Ken Lancastle of the Mechanical Contractors Association of Canada recommended tax relief for skilled tradespeople, expanding a productivity tax deduction to construction, and strengthening prompt payment rules to help the industry build more homes. The next panel discussed broader economic and digital policy. Alexandre Laurin from the C.D. Howe Institute proposed a major tax reform to boost economic growth by lowering income taxes and increasing consumption taxes. Dr. Paul Kershaw from Generation Squeeze suggested redirecting Old Age Security funds from high-income retirees to address poverty and housing affordability for younger Canadians. Renaud Brossard and Gabriel Giguère from the Montreal Economic Institute warned about rising government deficits and a decline in entrepreneurship. Kaylie Tiessen from the Canadian Shield Institute for Public Policy stressed the urgent need for Canada to develop a digital sovereignty strategy. Later, representatives from financial services and the auto industry presented their views. The Canadian Bankers Association, represented by Alex Ciappara and Hartland Elcock, recommended changes to banking regulations to boost productivity, combat fraud, and reduce internal trade barriers. Koleya Karringten from the Canadian Bitcoin Consortium and Morva Rohani from the Canadian Web3 Council advocated for clear, consistent rules for stablecoins and against a blanket ban on crypto ATMs, to foster innovation and protect Canada's economic standing. Jessica Oliver from Wealthsimple Investment Inc. urged the government to quickly ban investment account transfer fees and implement real-time payment systems and open banking. The final panel included Huw Williams from the Canadian Automobile Dealers Association and Brian Kingston from the Canadian Vehicle Manufacturers' Association, who highlighted the severe impact of U.S. tariffs on the auto industry, the need to reconsider the electric vehicle mandate, and concerns about Chinese vehicle imports. Helen Tooze from the Canada Climate Law Initiative recommended mandatory climate transition plans for companies and pension funds, while Stefania Seccia from the Women's National Housing and Homelessness Network called for a revitalized national housing strategy with clear targets for women and gender-diverse people. No formal decisions were made on the budget recommendations during this meeting, as the committee was in the consultation phase. The next steps involve the committee considering these diverse recommendations as they prepare for the 2026 federal budget.