Evidence of meeting #206 for Finance in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was important.

A video is available from Parliament.

On the agenda

MPs speaking

Also speaking

Andrew Marsland  Assistant Deputy Minister, Tax Policy Branch, Department of Finance
Nicholas Leswick  Assistant Deputy Minister, Economic and Fiscal Policy Branch, Department of Finance
Margaret Tepczynska  Director, Strategic Initiatives, Financial Institutions Division, Department of Finance
Eleanor Ryan  Director General, Financial Institutions Division, Financial Sector Policy Branch, Department of Finance

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

—and we're working on that right now and—

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

The date...?

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

—that will come to a conclusion on June 18 when the cabinet considers our next steps.

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

When will the construction begin? What date?

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

Give the minister time to answer in the equal amount of time that you asked the question.

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

It doesn't matter how much time he has. He doesn't answer any questions anyway, so I'll move on to another one.

The finance minister introduced budget legislation that was widely reported to give a quarter of a billion dollars to the Asian infrastructure bank, but on closer examination we see that the same legislation authorizes him, in fact, to double the amount to half a billion dollars. We've been talking about the $250-million taxpayer contribution you're giving the Asian infrastructure bank. Your bill allows you to double that amount.

Can you confirm that you will never use that authorization and that Canadians will not be forced to contribute one penny more than the $250 million you have so far admitted?

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

I'm happy to talk about our continuing commitment to being part of the global community and ensuring that the global economy does well not only through our aid budget but through important investments in development banks so that we make a difference around the world. We've made a commitment to multiple development banks around the world. The International Monetary Fund is an example of an organization to which we've made a commitment. The World Bank we've made a commitment to—

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

I'm not asking about any of those things. I'm asking about the Asian Infrastructure Investment Bank. You didn't answer the question so would you tell us this? What is the maximum amount of money that Canadians will be forced to pay under your plan to the Asian infrastructure bank? Just the amount—

4:55 p.m.

Liberal

Greg Fergus Liberal Hull—Aylmer, QC

On a point of order, Mr. Chair, I'm just trying to understand the rules here.

Is the minister allowed to answer with a response of an equal amount of time as the question that is posed?

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

Yes, he is, and it would be nice if he were allowed to answer the questions without interruption.

Minister, the floor is yours.

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

Thank you, Mr. Chair.

As I was saying, we have worked and will continue to work together with like-minded countries around the world—I've mentioned some of the countries such as the United Kingdom, France, Germany, Australia, New Zealand—to invest in development banks that can help to ensure that not only the most challenged countries in the world are more successful but also that the global economy does better, and that's—

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

What's the maximum amount of money Canadians will have to pay to the Asian infrastructure bank?

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

Am I able to continue with my response, Mr. Chair?

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

You can continue your answer.

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

We see this as important. We think that the ability for Canada to be a responsible member of the international community and to help in all regions of the world—

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

I asked a five-second question. He was supposed to answer in the same amount of time in which the question was asked.

Again, what is—

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

Mr. Poilievre.

Mr. Minister, the floor is yours, and you'll have time for one last question, Mr. Poilievre.

Mr. Minister, the floor is yours. Finish your answer and we'll go to one last question from Mr. Poilievre.

4:55 p.m.

Liberal

Bill Morneau Liberal Toronto Centre, ON

As I was completing my answer, we do see it as important for us to be part of that international community that's improving our global economy. It has been very successful over the last generation, as we've seen literally billions of people around the world being raised out of poverty. Some of it has obviously helped those people, but it also has helped industrialized countries like Canada to be successful as well, so we will maintain that even in the face of uneducated criticism on that approach.

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

Thank you, Mr. Minister.

Mr. Poilievre, this is your last question.

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

That is the kind of elitism we have come to expect from you, Minister. You think that Canadians who are worried about the protection of their tax dollars are just uneducated, but maybe they didn't inherit massive family fortunes allowing them to go to fancy schools.

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

We're not going to get into personal questions.

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

I'm going to ask you again, and you're going to get one last chance to answer this question.

What is the maximum amount of money Canadians will have to pay—

4:55 p.m.

Liberal

Kim Rudd Liberal Northumberland—Peterborough South, ON

I have a point of order.

4:55 p.m.

Liberal

The Chair Liberal Wayne Easter

Pierre, there's a point of order.

4:55 p.m.

Conservative

Pierre Poilievre Conservative Carleton, ON

Look, I appreciate you're trying to protect the Minister.