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Evidence of meeting #33 for Finance in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was infrastructure.

A recording is available from Parliament.

On the agenda

MPs speaking

Also speaking

Mark McQueen  Board Director, President and Chief Executive Officer of Wellington Financial, Canada's Venture Capital and Private Equity Association
John Gamble  President, Association of Consulting Engineering Companies
Susie Grynol  Vice-President, Policy and Public Affairs, Association of Consulting Engineering Companies
Claude Lajeunesse  President and Chief Executive Officer, Aerospace Industries Association of Canada
Robert Simonds  President, Canadian Association of Fire Chiefs
Geoff Smith  Director, Governement Relations, Canadian Electricity Association
Richard Rémillard  Executive Director, Canada's Venture Capital and Private Equity Association
Jayson Myers  President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters
Michel Arnold  Executive Director, Option consommateurs
Anu Bose  Head, Ottawa Office, Option consommateurs
Vaughan Dowie  Executive Head of Public Affairs, McGill University
Mark Cohon  Commissioner, Canadian Football League, 100th Anniversary Grey Cup Festival
Chris Rudge  Chairman and Chief Executive Officer, 100th Anniversary Grey Cup Festival
Michael Clemons  Representative, 100th Anniversary Grey Cup Festival
Barbara Cameron  Associate Professor, York University, Centre for Feminist Research
Kathleen Lahey  Faculty of Law, Queens University, Centre for Feminist Research
Jean-Michel Laurin  Vice-President, Global Business Policy, Canadian Manufacturers and Exporters
Sandra Crocker  Assistant Vice-Principal, Research and International Affairs, McGill University

5:50 p.m.

Bloc

Daniel Paillé Bloc Hochelaga, QC

I hope the government will listen.

Thank you, that's all.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

Merci.

I'm just going to take a couple of minutes here. I should point out that the private member's bill was introduced by a member of the opposition, but we will be hearing...and we will expect, obviously, to have people back.

I have two items.

First of all, McGill University, I appreciate your comments about the Vanier scholarships and the Canada research chairs. I appreciate your advice with respect to the granting councils. I did want you to address the indirect costs of research in terms of...my feeling was that it was a percentage, usually about 40%. Is that just on research going forward, or are you recommending it apply retroactively?

I'm going to pose my second question now, in the interests of time.

Mr. Myers, you talked about cashflow drives and investments for companies. What is the best measure for cashflow? Is that the accelerated capital cost allowance that you and I have worked on in the past, or would you identify another measure there?

I'll have McGill answer first and then CME.

5:50 p.m.

Assistant Vice-Principal, Research and International Affairs, McGill University

Sandra Crocker

We recognize the challenges in going backwards in time and looking at any kind of fiscal policies, so the recommendation is for go-forward funds.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

And it would be 40%?

5:50 p.m.

Assistant Vice-Principal, Research and International Affairs, McGill University

Sandra Crocker

That's the current recommendation.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

Okay, thank you.

Mr. Myers.

5:50 p.m.

President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters

Dr. Jayson Myers

If you're looking at cashflow driving investment in R and D and in machinery and equipment--and there's a very close relationship--the most effective tax measure would actually be a refundable tax credit.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

For R and D?

5:50 p.m.

President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters

Dr. Jayson Myers

For R and D, but also for investment in new technology.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

And for workers as well.

5:50 p.m.

President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters

Dr. Jayson Myers

However, that comes at a cost. The accelerated cost allowance, right now, has been a very fundamental measure in boosting investment in manufacturing above what it would be. It would be our recommendation to continue that accelerated CCA.

5:50 p.m.

Conservative

The Chair Conservative James Rajotte

Okay.

Again, I want to apologize to all the witnesses. These were unscheduled votes. We are trying to hear from as many witnesses as possible. I do apologize for the votes interrupting the committee. We appreciate your being here--your presentations to us and your responses to our questions. If there's anything further you would like the committee to consider, please submit that to the clerk and we will ensure that all members get it.

Thank you very much.

The meeting is adjourned.