Well, we'll change the dynamic here.
Evidence of meeting #16 for Finance in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was genome.
A recording is available from Parliament.
Evidence of meeting #16 for Finance in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was genome.
A recording is available from Parliament.
Conservative
Liberal
John McKay Liberal Scarborough—Guildwood, ON
I don't know if this is of any great significance, but it does strike me as a curiosity. I can't recollect another example of where you take money in 2010 and backdate it to the previous year. I don't know why you do that and I don't know what the implications are of doing that.
Maybe you could ask your political folks what that means.
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
I could clarify one aspect of that. By doing it in 2009-10, and if the budget implementation act passes before June 30, that funding would be available to Genome Canada immediately to start drawing down. It gives them the security of having the funding right away.
Liberal
John McKay Liberal Scarborough—Guildwood, ON
But it's drawing down moneys you have allocated to a budget for a fiscal year that has already expired.
Does this make any sense?
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
The books on 2009-10 close on June 30, 2010.
Liberal
John McKay Liberal Scarborough—Guildwood, ON
Therefore, does that mean that Genome has already spent their money and you're just backfilling?
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
No.
Liberal
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
Genome has not spent the money. It's available to them over the next number of years.
Liberal
John McKay Liberal Scarborough—Guildwood, ON
But only if this gets through by June 30. Is it available for it...?
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
If the funding did not get through by June 30, it would still be available to Genome Canada, but in the next fiscal year.
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
Against the government's fiscal year of 2010-11.
Liberal
John McKay Liberal Scarborough—Guildwood, ON
So they would bump it on to a following year. So that would bump everything down the road by one year, presumably.
Chief, Industry and Knowledge Economy, Economic Development and Corporate Finance, Department of Finance
It would delay funding for Genome Canada.
Liberal
John McKay Liberal Scarborough—Guildwood, ON
I'm not quite sure I understand the implications of this.
Conservative
The Chair Conservative James Rajotte
Okay. Thank you, Mr. McKay.
I have Monsieur Mulcair, and then Monsieur Paillé.
Monsieur Mulcair.
NDP
Thomas Mulcair NDP Outremont, QC
I want to thank the professionals from the Department of Finance who are with us this afternoon. I wouldn't ask this question if the meeting was being broadcast. The last thing I want is to embarrass anyone. The fact remains that, as an elected representative, I am always intrigued by the following situation: it's mainly the Department of Finance that sends people to us. They are very highly qualified and provide us with impeccable answers.
However, it's impossible for us to get the merest answer in French from anyone from the Department of Finance. To rise to your important duties, aren't you required to have some knowledge of French?
NDP
Thomas Mulcair NDP Outremont, QC
Mr. Chairman, Mr. Menzies is entitled to his questions and I'm entitle to mine, as an elected member. The Department of Finance systematically sends us people who are incapable of speaking a word of French to us. I said I would never have asked this question if the meeting had been broadcast, but—
Conservative
Ted Menzies Conservative Macleod, AB
You left the room to go do a media scrum. You were answered in French.