Evidence of meeting #6 for Finance in the 39th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was competition.

On the agenda

MPs speaking

Also speaking

Andy Charles  President and CEO, AIG United Guaranty Canada
Jim Murphy  Senior Director, Government Relations and Communications, Canadian Institute of Mortgage Brokers and Lenders
Peter Vukanovich  President and CEO, Genworth Financial Canada
Mark Tonnesen  President, CEO, Triad Guaranty Insurance Corporation
Noël Roy  chef de produit, financement hypothécaire, Direction du développement de l'offre, Fédération des caisses Desjardins
Karen Kinsley  President, Canada Mortgage and Housing Corporation
John Kenward  Chief Operating Officer, Canadian Home Builders' Association
Dale Ripplinger  Director - Chair, Federal Affairs Committee, Canadian Real Estate Association
David Liu  Vice-President, International Markets, PMI Group, Inc.
Catherine Adams  Vice-President, Home Equity Financing, RBC Royal Bank, RBC Financial Group

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Ladies and gentlemen, that concludes our questions for the panel.

Thank you very much, panellists, for your responses and presentations today.

We'll give you a minute to make your way before the committee continues with its business today.

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Proceeding to number two on your agenda, pursuant to Standing Order 81(4), main estimates 2006-07 referred to the committee Tuesday, April 25, 2006, shall vote 1 under Canada Revenue Agency carry?

CANADA REVENUE AGENCY

Canada Revenue Agency

Vote 1--Program expenditures and recoverable expenditures on behalf of the Canada Pension Plan and the Employment Insurance Act..........$2,551,607,000

(Vote 1 agreed to)

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Shall votes 1, 5, 10, L15 under Finance carry?

5:35 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

Point of order.

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Point of order, Madam Wasylycia-Leis.

5:35 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

You've lumped vote 10 in with this vote. We've just had two hours of briefs. Surely we're going to discuss this at some point. What was the purpose of this unless we were going to actually see if it has any bearing in terms of how we proceed?

There also is a motion from Mr. Turner. I would hope that we're going to give some thought to how we proceed; otherwise this was just a big joke.

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Well, I doubt that, but as you wish, Madam Wasylycia-Leis, I'll proceed to break them off individually if that's all right with committee members.

FINANCE

Department

Vote 1--Operating expenditures..........$93,135,000

Vote 5--Finance--Grants and contributions..........$404,200,000

Vote L15--Finance--Issuance and payment of demand notes to the International Development Association...............

(Votes 1, 5, and L15 agreed to)

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

I'll save vote 10 for the last vote and then we'll move to it.

Shall vote 25 under Canadian International Trade Tribunal carry?

Mr. Pacetti, point of order.

5:35 p.m.

Liberal

Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC

I don't want to get too technical, but I asked for a rough estimate or a budget from the Canadian International Trade Tribunal. I'm not sure if we got anything.

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

I don't believe we have yet, no.

5:35 p.m.

Liberal

Massimo Pacetti Liberal Saint-Léonard—Saint-Michel, QC

I don't want to hold up the vote, but I do ask, Mr. Chairman, that you at least send them a letter to ask them to send us something.

Thank you.

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Very good. I assure you, Mr. Pacetti, I will follow up on the information that was assured to us by CITT.

Back, then, to vote 25.

FINANCE

Canadian International Trade Tribunal

Vote 25--Program expenditures--$8,609,000

(Vote 25 agreed to on division)

Financial Transactions and Reports Analysis Centre of Canada

Vote 30--Program expenditures..........$28,110,000

(Vote 30 agreed to on division)

Office of the Superintendent of Financial Institutions

Vote 35--Program expenditures..........$768,000

(Vote 35 agreed to on division)

5:35 p.m.

Conservative

The Chair Conservative Brian Pallister

Shall vote 10 under Finance carry?

Madam Wasylycia-Leis.

5:35 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

Mr. Chairperson, I would argue that we hold in abeyance the decision on this vote until we have some of the questions answered that were raised at our two hours of deliberations. It was a very useful discussion. I don't think all of the questions were answered and I would hope that we would have an opportunity to at least weigh the evidence, read the testimony and make a serious decision.

It would seem to me, Mr. Chairperson, that there were a number of issues raised that many of the witnesses supported, such as some qualifiers placed upon this decision to open up CMHC mortgage insurance for competition. And I would hope that we'd have a chance to at least present some of those ideas and look at a more balanced, reasoned approach to this whole issue.

So if it's possible, I'd like to suggest--I'm not sure what the proper terminology is--we hold it over until we've had a chance to discuss it further.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

You were wanting to suggest we defer it until what point in time?

5:40 p.m.

Conservative

Garth Turner Conservative Halton, ON

Mr. Chairman, I thought we were coming back to this issue under Bill C-13, part 9.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

Yes, we may. I'm trying to get an answer from Madam Wasylycia-Leis first. I'll go to you right after, Mr. Turner.

Sorry, what were you suggesting?

5:40 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

We deal with it between now and the end of the session.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

So you're suggesting to defer vote 10 until the end of the session?

5:40 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

Any time over the next couple of weeks.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

I'm sorry, just for clarification....

5:40 p.m.

NDP

Judy Wasylycia-Leis NDP Winnipeg North, MB

I would suggest that at the next opportunity, which would not be tomorrow, since the minister is coming, and I assume Wednesday is already set in terms of witnesses on Bill C-13. I suggest that the following Monday be designated as a time to discuss this issue and see if we're ready for a vote.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

I'm instructed that we don't need a motion, so we'll just continue with the discussion on this and see if we can arrive at a consensus on it.

Mr. Turner, you wanted to make a comment.

5:40 p.m.

Conservative

Garth Turner Conservative Halton, ON

Well, I tried to make the point earlier that I had more questions for the witnesses that you dismissed. Your response was that they're coming back, but actually Triad is not coming back, Desjardins is not coming back, CMHC is not coming back, Canadian Home Builders' aren't coming back, PMI is not coming back, and RBC isn't coming back. So I have more questions.

5:40 p.m.

Conservative

The Chair Conservative Brian Pallister

Mr. McCallum.