Evidence of meeting #20 for Finance in the 39th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was program.
A recording is available from Parliament.
1 p.m.
Analyst, Socio-Economic Policy, Citizens for Public Justice
Citizens for Public Justice hasn't, but there have been a number of studies done around the impact of minimum wage projections. I can send those to you, if you like.
1 p.m.
Conservative
Garth Turner Conservative Halton, ON
Nathalie Bull, same question. Could you tell me the cost for Heritage Canada to implement those two recommendations, please?
1 p.m.
Executive Director, Heritage Canada Foundation
There is no direct cost to the government to implement the tax incentive. The kinds of buildings we're looking at would not be rehabilitated without this incentive, so there would not be an increase in tax revenue if the project doesn't exist.
1 p.m.
Executive Director, Heritage Canada Foundation
Yes, but it's revenue that the government wouldn't be receiving because these buildings would not be brought into--
1 p.m.
Conservative
Garth Turner Conservative Halton, ON
That's not how we count it, okay? If it's lost, it's lost.
Okay, thank you very much.
Ellen Russell, are you familiar with the latest surplus numbers?
1 p.m.
Conservative
Garth Turner Conservative Halton, ON
The announcement about the current account surplus. I think it was made on Thursday.
1 p.m.
Economist, Canadian Centre for Policy Alternatives
I think I have the material here. Are you speaking about The Fiscal Monitor?
1 p.m.
Conservative
Garth Turner Conservative Halton, ON
Do you know the surplus for the first four months of the fiscal year?
1 p.m.
Economist, Canadian Centre for Policy Alternatives
For April to July 2006, it was--.
1 p.m.
Conservative
Garth Turner Conservative Halton, ON
The latest numbers, yes, for those four months. And the surplus is?
1:05 p.m.
Economist, Canadian Centre for Policy Alternatives
It was $6.3 billion. But the results today do not include a significant proportion of $14.3 billion in tax reductions and expenditures, though, so I would be really hesitant to count on this.
1:05 p.m.
Conservative
Garth Turner Conservative Halton, ON
Oh, you would be. Okay. But $6.3 billion over four months, is that what you said?
1:05 p.m.
Economist, Canadian Centre for Policy Alternatives
There is $14.3 billion left for various measures--that's a lot of things--but it's still early in the fiscal year. Many things can happen about the timing of--
1:05 p.m.
Conservative
Garth Turner Conservative Halton, ON
But that's where it sits, doesn't it? Why are you relying on old numbers from Don Drummond, as opposed to the new numbers that were issued on Thursday?
1:05 p.m.
Economist, Canadian Centre for Policy Alternatives
I'm relying on all the information I have at my fingertips, and I don't consider The Fiscal Monitor to be the end word on this. I think there's much more information.
1:05 p.m.
Conservative
Garth Turner Conservative Halton, ON
As opposed to Don Drummond, who doesn't work for the government and who is relying on the government's numbers?
1:05 p.m.
Economist, Canadian Centre for Policy Alternatives
Well, I think it's interesting; he has some very interesting insights that are worth considering--
1:05 p.m.
Conservative
Garth Turner Conservative Halton, ON
I think it's interesting too, because it's just convenient.
Now, I have a question for you. You said we can't afford income tax cuts.
1:05 p.m.
Conservative
Garth Turner Conservative Halton, ON
What happens when we cut taxes? Where does the money end up, the lost revenues that the government does not take in? For example, where did the $5.2 billion from the 1% cut in the GST end up?
1:05 p.m.
Economist, Canadian Centre for Policy Alternatives
Well, it ends up in a variety of places. Do you have a study that shows where it ends up?