Evidence of meeting #15 for Finance in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was economy.
A video is available from Parliament.
1:50 p.m.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
With regard to the macro-economic impact of tax cuts in Canada, did you calculate what impact this measure could have on the Canadian economy? Would it stimulate economic growth in Canada? Did you do any analyses in that regard?
Mr. Matier, could you perhaps talk a little bit about the macro-economic impact that a measure like this would have on the country?
1:50 p.m.
Parliamentary Budget Officer, Library of Parliament
Our report takes into consideration all of the tax measures announced in the budget. What you see in our report today is an aggregate measure. It includes that part of the tax cut but not just that amount.
1:50 p.m.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I think what you said is that we believe that ultimately these measures will have a sizable impact on the Canadian economy. Since you were commenting on that—and I think it was a quote taken from your report—can you expand on the measures you were referring to to say that they will have a positive sizable impact on the Canadian economy?
1:50 p.m.
Parliamentary Budget Officer, Library of Parliament
All of the measures that were announced in the budget are included in what you just quoted me as saying. All of the measures in question are set out in table 3 of the summary of our report.
1:50 p.m.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Are you basically saying that all of the measures set out in the budget will have a positive effect on the Canadian economy?
1:50 p.m.
Parliamentary Budget Officer, Library of Parliament
The seven measures or the main commitments that we are talking about that were announced for the next two years are those that were taken into consideration in our report.
1:50 p.m.
Liberal
1:50 p.m.
Liberal
The Chair Liberal Wayne Easter
Thank you very much, Mr. Champagne.
I have one last question, Mr. Fréchette. I don't think there's any question that most of us believe the parliamentary budget office should be an ally for Canadians, and actually for the Department of Finance, in terms of improving our transparency and the visibility of the numbers to Canadians, and shouldn't be an opponent.
In a report on, I believe, April 6 you outlined a number of concerns regarding the presentation of the federal fiscal plan. Have the concerns you raised at that point been addressed? If they haven't, which ones are yet to be addressed, from your perspective? I know there are always different opinions here.
Has the Department of Finance sufficiently addressed the concerns you raised?
1:55 p.m.
Parliamentary Budget Officer, Library of Parliament
Yes, they did. As I said previously in this meeting, the problem is that we received the data and after that were not able to use it. Afterwards, with our communication with the department, it was okay to use the data and to provide it to Parliament. Therefore, this has been solved.
We will continue our relationship and discussions with departments. Believe me, we have excellent relationships with some departments; I could mention a couple of them. They are very open and transparent: we receive the data we ask for.
I would like to take the opportunity to mention the confidentiality. There was some attack against the PBO that we would not release confidential data. That is true. It is in the legislation, the Parliament of Canada Act, in section 79.4. Anything we receive on a confidential basis from departments we cannot release and will not release; however, we can use it to help us do our calculations, and that's what we're doing.
1:55 p.m.
Liberal
The Chair Liberal Wayne Easter
Thank you for that answer.
I would remind committee members that if any of the parties have amendments on Bill C-2, they have to be in to the clerk by 4 p.m. today.
With that, I want to thank the parliamentary budget officer and all of the witnesses for being here, and also for the good work you do on behalf of Canadians.
Thank you very much, everyone.
The meeting is adjourned.