I call meeting number 26 of the Standing Committee on Finance to order.
Our orders today, pursuant to Standing Order 108(2), are to study taxation of employee stock options.
Colleagues, we have two witnesses with us here today. From the Department of Finance, we have Mr. Baxter Williams, director of personal income tax division, tax policy branch. Welcome, Mr. Williams. We also have Mr. Miodrag Jovanovic, senior chief, saving and investment section. Welcome to you as well.
Just remember, colleagues, you do have the initial motion adopted by this committee on June 2. We also have the response from the minister of August 31, 2009. We also have the measures in the budget of March of this year. Then, of course, this hearing is a result of this committee's adoption of Mr. McCallum's motion following up on this issue.
I understand our witnesses have a few brief opening comments. Mr. Williams, do you have a brief opening statement?