Finance Committee on May 15th, 2012

Evidence of meeting #58 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was budget.

A recording is available from Parliament.

On the agenda

Bill C-38, An Act to implement certain provisions of the budget tabled in Parliament on March 29, 2012 and other measures

Committee Business

MPs speaking

Also speaking

Ted Cook Senior Legislative Chief, Tax Legislation Division, Tax Policy Branch, Department of Finance

Sean Keenan Director, Personal Income Tax Division, Tax Policy Branch, Department of Finance

Brian McCauley Assistant Commissioner, Legislative Policy and Regulatory Affairs Branch, Canada Revenue Agency

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

You've announced a major change to OAS, which will take effect in the future for people who want to retire. They will now have to wait—

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

You have one minute left.

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

—two more years to get their old age security. How will that put OAS back on a path to sustainability?

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

Yes, and this gradual change will not begin until 2023.

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

How will that put OAS back on a path to sustainability?

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

Ms. Nash, pose your question—

May 15th, 2012 / 3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

I don't think we can all talk at the same time.

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

—and allow the minister to answer.

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

So you're not going to give us any figures?

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

I can't talk when you keep—

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

You're not going to confirm the figure that you raised yesterday?

3:45 p.m.

Some hon. members

Oh, oh!

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

Can we get an answer from the minister, please?

You have 30 seconds, Minister.

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

As I said, there are no reductions to the OAS in the budget.

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

Okay.

Do you have a short question, Ms. Nash?

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

Can you tell me what concrete measures there are in this budget to reduce inequality, which is a concern for the majority of Canadians?

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

Yes. If I could help you understand the budget, and I'm sure you want to understand this bill, it's in four parts.

Part 1 is income tax amendments.

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

Are there any concrete measures?

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

Part 2 is sales and excise tax measures.

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

Are there any concrete measures to reduce inequality in this budget?

3:45 p.m.

Conservative

Jim Flaherty Conservative Whitby—Oshawa, ON

Part 3 is responsible resource development—

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

Order!

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

Nothing. Nothing.

3:45 p.m.

Conservative

The Chair Conservative James Rajotte

Order!

3:45 p.m.

NDP

Peggy Nash NDP Parkdale—High Park, ON

You have nothing to reduce inequality.