Questions Passed as Orders for Returns  With regard to the exchange of information between Canada and the United States (US) under the Foreign Account Tax Compliance Act (FATCA): (a) how many individuals were reported, in total and broken down by (i) Canadian citizens, (ii) permanent residents of Canada, (iii) temporary residents of Canada; (b) how many individuals were reported, broken down by (i) individuals with Canadian addresses, (ii) individuals with US addresses, (iii) individuals with addresses in other countries; (c) how many accounts were reported, in total and broken down by (i) bank accounts, (ii) credit union accounts, (iii) investment accounts, (iv) insurance accounts, (v) other types of accounts; (d) with respect to (c)(iii), what types of insurance accounts were reported; (e) with respect to (c)(v), what other types of accounts were reported; (f) of the accounts reported, how many were (i) under $50,000 US, (ii) between $50,000 and $1,000,000 US, (iii) over $1,000,000 US; (g) of the accounts reported, how many were (i) Registered Retirement Savings Account accounts, (ii) Registered Education Savings Account accounts, (iii) Registered Disability Savings Account accounts, (iv) Tax Free Savings Account accounts; (h) of the accounts reported, how many were held jointly with one or more non US persons, broken down by type of account and indicating the type of relationship between the joint account holder and the US person, if it is known; (i) how many accounts of organizations were reported to the IRS because a US person had signing authority, interest in, or other connection to the organization; (j) of the accounts that were reported, how many were (i) business accounts, (ii) professional accounts, (iii) charitable or non-profit organization accounts, (iv) connected to other organizations, broken down by type of organization; (k) what agency, organization, and individuals was the information provided to; (l) what measures were taken to ensure this information will not be provided to any other agency, organization, and individuals; (m) what measures were taken to ensure that information transmitted will not be subject to identity theft, fraud, other criminal activities, or breach of privacy; (n) how many records did Canada receive from the US, in total and broken down by (i) individuals who live in Canada, (ii) individuals who live in the US, (iii) individuals who live in other countries, broken down by country; (o) how many accounts did Canada receive information about; (p) what type of information was in the records Canada received; (q) did Canada receive information regarding (i) income from the accounts, (ii) total assets in accounts, (iii) account balances, (iv) transactions, deposits and withdrawals, (v) account numbers, (vi) names of account holders, (vii) Social Insurance Numbers, (viii) other related information; (r) what type of information did Canada receive that was not provided by the US prior to the FATCA Intergovernmental Agreement; and (s) when did Canada receive the information?

Canada Revenue Agency  Speaker, here is another Liberal broken promise. The Conservatives signed a deal to implement FATCA and hand over private financial information of a million Canadians to the United States. During the campaign, the Liberals said that the deal violated privacy rights and might even be unconstitutional.

Finance committee  These are some of the criticisms we heard from witnesses when the bills were under study. Some experts even said that adopting FATCA could undermine the implementation of the intergovernmental agreement. I'd like to ask you two quick questions on the subject. First of all, have there been any discussions to incorporate changes that would clarify things, allowing for clear implementation of the legislation and regulations?

Finance committee  The U.S. has recently delayed the application of FATCA sanctions until January 2015. Canada is already deemed in compliance with the U.S. law, and legal experts have testified to this committee that there's ample time, therefore, to properly study and amend this agreement.

Economic Action Plan 2014 Act, No. 1  Because there are so many areas that the bill touches on, I am only going to be able to mention three or four this evening, unfortunately, but I want to speak first of all about the changes to FATCA. This is the foreign account tax compliance act, and Bill C-31 moves to implement a Canada-U.S. intergovernmental agreement about FATCA. What is FATCA? The bill means that Canadian-U.S. dual citizens would find that they would have their financial information scrutinized by the American government, even though they perhaps have not lived or worked in the United States for many years, and this would include people who happen to be born in the U.S. but have not lived there perhaps most of their lives.

Economic Action Plan 2014 Act, No. 1  That is the way business is done at the committee. We also put forward several amendments to the very controversial FATCA, the Foreign Account Tax Compliance Act, implementation aspect of Bill C-31, which was an attempt to make it a little better, this deeply flawed initiative that the Conservatives put forward, which has no business being in a budget bill in the first place, but there it is.

Finance committee  We're moving to strike the reference to new section 267 from clause 27 so that it is not an offence to not comply with this FATCA implementation measure.

Economic Action Plan 2014 Act, No. 1  The whole point of my comments was that there are a number of problems between this government and the U.S. government regarding tax compliance. FATCA makes it worse. FATCA would actually distribute a whole lot of information to the U.S. that the U.S. is not entitled to have.

Economic Action Plan 2014 Act, No. 1  First it was the softwood lumber deal; it has not managed to update the tax treaty; and now it has this FATCA deal that would allow the U.S. government access to tonnes more personal information on about a million Canadians, some of whom were born here and have never lived in the U.S., but the U.S. government considers them U.S. citizens.

Economic Action Plan 2014 Act, No. 1  Since we had more time, it would have been good to study this provision separately and more carefully, in order to identify the weaknesses. We need to respond to FATCA and propose an agreement. We cannot accept just any agreement. We need an agreement that takes all of these concerns into consideration. I could go on about this for hours. I will stop here, but I do want to answer questions from my colleagues and probably expand on these ideas.

Economic Action Plan 2014 Act, No. 1  Therefore, those protections that Canadians used to enjoy will not be enjoyed by a number of individuals, including children of those individuals, because the U.S. has decided that those children are now subject to FATCA. How on earth can the government claim to be protecting the privacy and the personal information of Canadians when they are ordering banks to just give it away, including that of children in his riding?

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, the implementation of FATCA would have serious implications on children in the member's riding. The implementation of FATCA, according to James Jatras, who was a former U.S. diplomat, would have the purpose of nullifying Canadian protections under the Bank Act, the Personal Information Protection and Electronic Documents Act, otherwise known as PIPEDA, the Canadian human rights code and, especially, the Charter of Rights and Freedoms.

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, we have seen some estimates. When FATCA was first introduced, Scotiabank estimated that it had to set aside $100 million to gather all of this information, and that was just for Scotiabank alone. It is an incredibly expensive thing to do.

Economic Action Plan 2014 Act, No. 1  Speaker, I would like to salute and thank my neighbour and friend from Saanich—Gulf Islands for her intervention and her wisdom in pointing out the FATCA provisions in the bill. We already know those provisions will go to the Supreme Court of Canada. We already know the Conservatives have received legal advice and are moving in that direction.

Economic Action Plan 2014 Act, No. 1  The definition of a who a U.S. person is will not be made by the Canadian government; it will be made by Washington. Rest his soul, Mr. Flaherty spoke up against FATCA and this process, worried about the very thing that I am addressing now, which the Conservatives are choosing to heckle me on. He was worried that accidental Americans, which is what Mr.