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.
Bloc
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.
Assistant Vice-Principal, Research and International Affairs, McGill University
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.
Conservative
Assistant Vice-Principal, Research and International Affairs, McGill University
That's the current recommendation.
President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters
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.
President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters
For R and D, but also for investment in new technology.
President and Chief Executive Officer, National Office, Canadian Manufacturers and Exporters
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.
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.
