Evidence of meeting #186 for Finance in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was benefit.
A video is available from Parliament.
5:35 p.m.
Liberal
The Chair Liberal Wayne Easter
It's sometimes a government accounting thing, as I understand it.
Just so we're clear, I think what Mr. Julian is asking is whether you can document the monies for these consultations. There will be some from Indigenous Affairs, and there will be some from other departments. Could you document it fully so Mr. Julian has the final figure? You can send that information to the clerk.
Do you have another question?
5:35 p.m.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
On funding for the administration of the P3 Canada fund investment portfolio, could you give us some more details about that?
I understand there are allocations in other departments, so again, how is it allocated so that $156,000 is allocated to Finance?
5:35 p.m.
Associate Deputy Minister, Department of Finance
The $156,000 represents the custodial fees that are paid to CIBC Mellon for safekeeping arrangements and management of the investment portfolio.
You will probably recall that P3 Canada fulfilled its mandate in November 2017, and this is the windup of the P3 Canada portfolio. This is the amount of money left, and it has to be administered.
5:40 p.m.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
Thank you for that.
There was money allocated to other ministries, though. Is that correct?
5:40 p.m.
Associate Deputy Minister, Department of Finance
Again, we'd have to come back to you on that, to see about other departments.
5:40 p.m.
Director, Financial Management and Reporting, Corporate Services Branch, Department of Finance
I can speak a little bit to that.
On the dissolution, all the investment portfolio was transferred to the Department of Finance. Infrastructure was given a portion of money, as well, to finish their commitments on all the different projects that P3 had entered into prior to its dissolution. In this case, we got the investment portfolio and its infrastructure, providing the additional payments to deliver on all the commitments on P3 Canada.
5:40 p.m.
Liberal
Greg Fergus Liberal Hull—Aylmer, QC
Further to the question from my colleague from the Northwest Territories, Mr. McLeod, I'm just wondering if you could talk a bit more about Ridley Terminals, just to give a bit more detail. I'm not certain I quite caught the purpose of the consultation for that part.
5:40 p.m.
Associate Deputy Minister, Department of Finance
As Ridley Terminals is being sold, there has to be a consultation around the sale. The consultation was done—in fact, before the process was launched—with the first nations groups that could be affected in the area to see what the impacts could be.
5:40 p.m.
Liberal
The Chair Liberal Wayne Easter
Okay. If there are no further questions, are we ready to go to a vote on the supplementary estimates?
Mr. Julian, go ahead.
5:40 p.m.
Liberal
The Chair Liberal Wayne Easter
Well, I'll read them out and then we'll go on division.
We have vote 1a, in the amount of $103,399,146, and vote 10a, in the amount of $1.
Ms. Bess, did you have something to add?
5:40 p.m.
Chief Financial Officer, Financial Management Directorate, Department of Finance
Sorry, Mr. Chair, I just want to clarify that the first amount, vote 1a, is just the supplementary estimate. It's $3,146,796 that you're voting on.
5:40 p.m.
Liberal
The Chair Liberal Wayne Easter
Okay. We'll amend that as such. I know you guys wouldn't want to spend any more money than is already in the supplementary estimates.
DEPARTMENT OF FINANCE
Vote 1a—Program Expenditures..........$3,146,796
Vote 10a—Canadian Securities Regulation Regime Transition Office..........$1
(Votes 1a and 10a agreed to on division)
Shall I report the votes on the supplementary estimates to the House?
5:40 p.m.
Some hon. members
Agreed.
5:40 p.m.
An hon. member
On division.
5:40 p.m.
Liberal
The Chair Liberal Wayne Easter
Thank you, folks, for appearing on the supplementary estimates.
With that, we will adjourn ahead of time.
Peter, do you have a question? You look puzzled.
5:40 p.m.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
No, no. It's just that if we have some time, I have a filibuster I'd like to start.