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Finance committee That's right, but to recognize that--
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Again, that's a budget decision by the Minister of Finance, but this is not a new or novel practice.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee I've already spoken to the advantages of a lump-sum payment with respect to getting Genome Canada access to that funding as quickly as possible. I cannot speak to your--
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Right.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Mr. Chair, I've already spoken to the advantages of a lump-sum payment to Genome Canada recorded in 2009-10. I don't think I can speak to the motivations of the Minister of Finance.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Posed that way, I think I can answer your question. The deficit in 2009-10 will be $75 million higher than it would have been absent this measure. If the budget implementation act were to be delayed beyond June 30, that $75 million would be recognized against the projected deficit for 2010-11.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee That's the fiscal year-end.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee That's right.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Sorry. Let me be clear. The funding agreement with Genome Canada had to be and was concluded before March 31.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee —the BIA would need to be passed before June 30.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee It would not be possible to record the $75 million in 2009-2010 if the funding agreement was concluded after March 31.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee If the funding did not get through by June 30, it would still be available to Genome Canada, but in the next fiscal year.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee Against the government's fiscal year of 2010-11.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee It would delay funding for Genome Canada.
May 5th, 2010Committee meeting
Jonathan DeWolfe
Finance committee No, that's not what I was trying to get at. The Government of Canada's books close on June 30. That would be, for lack of a better term, the deadline for the BIA to pass, in order for Genome Canada--
May 5th, 2010Committee meeting
Jonathan DeWolfe