Finance Committee on Oct. 30th, 2012

Evidence of meeting #85 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was report.

A video is available from Parliament.

On the agenda

Report of the Bank of Canada on Monetary Policy

Economic and Fiscal Outlook

MPs speaking

Also speaking

Mark Carney Governor, Bank of Canada

Tiff Macklem Senior Deputy Governor, Bank of Canada

Kevin Page Parliamentary Budget Officer, Library of Parliament

Chris Matier Senior Director, Economic and Fiscal Analysis and Forecasting, Office of the Parliamentary Budget Officer, Library of Parliament

5:25 p.m.

Parliamentary Budget Officer, Library of Parliament

Kevin Page

Mr. Chair, I think once we see evidence of real structural change to bring down the spending growth in the provinces, I'm sure the Department of Finance, the PBO, and others who do this fiscal...would definitely be happy to lower the baselines. But at this point in time, we just feel more comfortable giving this information using longer term baselines.

5:25 p.m.

Conservative

Cathy McLeod Conservative Kamloops—Thompson—Cariboo, BC

Again, I certainly know how they are grasping this issue. I've seen significant changes over the last year or two in terms of how they are moving ahead.

5:25 p.m.

Conservative

The Chair Conservative James Rajotte

You have about 30 seconds.

5:25 p.m.

Conservative

Cathy McLeod Conservative Kamloops—Thompson—Cariboo, BC

I believe that they will have challenges, absolutely, but the health transfers increase will actually help in terms of having funding so they know what is coming. Obviously it would not be like in the 1990s when the Liberals significantly decreased the health transfers. At least they can count on the sustainability of their funding that's coming from the government.

I guess I'll leave it at that. Thanks, Mr. Chair.

5:30 p.m.

Conservative

The Chair Conservative James Rajotte

A brief response, Mr. Page? No, okay.

I want to thank you, Mr. Page, and your colleagues, for joining us today and responding to our questions. I believe you offered us something in response to Ms. Glover, a short report on a comparison of the G-7 countries. We'd love to have that. If you have anything further, please do submit it to us and we'll be happy to share it.

Thank you so much. The meeting is adjourned.