Evidence of meeting #25 for Finance in the 39th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was federal.
A recording is available from Parliament.
12:50 p.m.
Conservative
Rick Dykstra Conservative St. Catharines, ON
Thank you.
Jumping right in here, I'll go back to something that Ms. Wasylycia-Leis asked about, and that's what happens when the surplus hits $2 billion.
Mr. Morrison, you did a reasonable job answering, although I don't think you had enough time to complete your statement, that while $13.2 billion was paid down on the debt, the 2006 budget included significant investments.
12:50 p.m.
Executive Director, Road and Infrastructure Program of Canada (The)
That's right, but you'll be happy to know, Mr. Dykstra, that I'm not an economist either. I want to put that on the table.
12:55 p.m.
Executive Director, Road and Infrastructure Program of Canada (The)
Ms. Wasylycia-Leis asked the question in the context of whether or not there's a different way we can use a surplus in this country other than having it totally applied toward the debt. I think what the 2006 budget did was a bit unique in that it did state that we'll make these investments--Ms. Aziz pointed to one in post-secondary infrastructure, in the public transit program--but only contingent on whether there was a $2 billion surplus.
Frankly, that's not a bad way to do it. It was an innovative approach. It ensured that, yes, the government would maintain its fiscal balance, but it would ensure at the same time that key priorities were being met.
Of course, this was on top of all the other investments contained in Budget 2006, which is why we're smiling from ear to ear.
12:55 p.m.
Conservative
Rick Dykstra Conservative St. Catharines, ON
Thank you. It's good to hear that. It's nice to see some folks come to the table who are satisfied that we're on the right track.
I did note in the budget the funding infrastructure initiatives--highway and border infrastructure, Canada's Pacific gateway, the strategic infrastructure fund, the municipal road infrastructure fund, the public transit capital trust, the existing infrastructure agreements--that, all told, equal $16.5 billion over the next four to five years.
Would you say that's a significant investment in infrastructure over the next four to five years?
12:55 p.m.
Executive Director, Road and Infrastructure Program of Canada (The)
We would say that's a very welcome investment, but of course we need to continue. There probably would be no point in my being here if I said that was enough.
12:55 p.m.
Executive Director, Road and Infrastructure Program of Canada (The)
I would also point out that a number of those agreements are cost-shared with provinces, and in some cases municipalities, and, in some cases--this is something we perhaps need to look more and more at--with the private sector in the form of triple fees. Those are all leveraging tools that we need to use.
So the $16 billion is just a starting point.
12:55 p.m.
Conservative
Rick Dykstra Conservative St. Catharines, ON
Good. Thank you.
Ms. Aziz, I have a big university in my riding. From a students' union perspective, they feel that the millennium scholarship, at least at this point, should continue. I think that has as much to do with the fact that they're not sure what it would be replaced with, perhaps leaving a gap.
In terms of your fellow organization, which obviously isn't in agreement with your position, how do the two of you come to grips with that and potentially come forward with a recommendation to replace a fund that obviously is not working?
12:55 p.m.
Canadian Federation of Students - National Office
In terms of the foundation and whether or not it's going to be extended, certainly we have concerns outside of just the fact that money that was previously allocated for grants didn't go to grants. I talked about the research contracts as well, but I think the concern is the availability of grant money. Certainly we're in favour of grant money. It's not the issue that this foundation is providing grants; the issue is just that it's not an accountable way to do it.
Moving into the future, certainly we agree that money needs to continue and that money needs to be available for students and for Canadian families, but just not through the same mechanisms.
12:55 p.m.
Conservative
Rick Dykstra Conservative St. Catharines, ON
Obviously we are in a minority government here, and we have to work together as a government on how we deliver services and how we move forward on behalf of the country. How do your two organizations do that in terms of being able to provide a fairly common front and I guess a very focused response to what this may or may not be, or shouldn't be?
12:55 p.m.
Canadian Federation of Students - National Office
Moving forward, I think we all agree that the money should continue. There should be grant money available. The easiest way to do that is through the mechanisms that already exist through the government, through the HRSD student loans program. So we'd just move forward with that grant money, turn a blind eye to the foundation that was created, and move forward with the structures that are already in place under HRSD.
12:55 p.m.
Conservative
Rick Dykstra Conservative St. Catharines, ON
Thank you.
How much time do I have, Mr. Chair? Thirty seconds?
I have a quick question for the bankers association.
One of the things I'm learning quickly as a new member of Parliament is that you need to be focused on your riding and the benefits that actually come down to the folks who work in the banks on the floor, the tellers. I wondered if I could have your thoughts on how that happened in this budget or where we need to go in the future to ensure that the folks on the floor are seeing an advantage to what we're doing here.
12:55 p.m.
President, Financial Affairs Committee, Executive Vice-President and Chief Financial Officer, Bank of Nova Scotia , Canadian Bankers Association
Again, I think it's relative to the earlier discussions. It has to be balanced. At any point in time, tough decisions have to be made. There are always alternatives, choices. Sometimes they are tough decisions, but I don't think it's all one or the other.
Our suggested solution is to grow that pie. Make Canada more competitive and we will all benefit.
12:55 p.m.
Liberal
The Vice-Chair Liberal Massimo Pacetti
Thank you, Mr. Dykstra.
I want to thank the witnesses for appearing, for taking time out of their day. It's interesting. It's always tough because of the time constraints we have.
I would remind members that the next time we meet will be next week in Whitehorse.
Thank you.
The meeting is adjourned until next week.