Evidence of meeting #51 for Finance in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was measure.
A video is available from Parliament.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I could provide you with a specific answer to that question later, Mr. Garon. As you said, it's a technical question.
Bloc
Jean-Denis Garon Bloc Mirabel, QC
It shouldn't be, but since we no longer know what an investment is, I'm trying my luck by asking you.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
It's because I want to be sure. You asked me earlier to be very specific in my answers. We'll respond in writing so you have all the details. I would also like to put the answer in the context of the analysis, because I know you don't want just a yes or no. You want the analysis behind the answer, so we will provide you with the analysis.
Bloc
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
We will provide you with the analysis in writing. That way, you will have all the documentation you need.
Bloc
Jean-Denis Garon Bloc Mirabel, QC
However, I agree with you that your definitions have become confusing. So it's good that—
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
No, I think people understand, and so does the Parliamentary Budget Officer.
However, in order to give you a very specific answer, as you asked me earlier—
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
It's one more way of presenting the budget analysis.
I know you want precise and technical answers, so I want to give it to you in writing. However, it is indeed an operating expense.
Bloc
Jean-Denis Garon Bloc Mirabel, QC
In my previous turn, I asked you for technical analyses. You could do all that at the same time.
I have one last quick question, because I have only a minute left.
People always say that there's nothing more permanent than a temporary policy, especially when it's a tax cut. It's always difficult to raise a tax or to restore it.
Have you established criteria that will guide your choice when it comes time to make a new decision, perhaps to extend the relief measure? Are these criteria known?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Absolutely.
You know as well as I do that the world is changing rapidly. There is a lot of volatility and complexity.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
On the one hand, we must be very serious and very cautious. That's what you've been asking of me for some time now, to be very cautious and serious when it comes to managing public finances. So, at every turn, as we assess the situation, we look at the measures available to help Canadians, while being fiscally prudent.
Bloc
Jean-Denis Garon Bloc Mirabel, QC
So what you're telling us is that the criteria that will guide your decision on whether or not to extend this measure will change from day to day, on a piecemeal basis.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
No, I'm talking about the global context. People at home are able to keep things in perspective. They understand these things.
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Yes, people understand. I trust them.
Liberal
The Chair Liberal Karina Gould
Thank you, Mr. Garon.
Thank you, Minister.
That concludes the time for this round.
We'll continue now with Ms. Jansen for five minutes, please.
Conservative
Tamara Jansen Conservative Cloverdale—Langley City, BC
Mr. Minister, when oil prices rise, Canadians pay more at the pumps. Is that correct?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I think that would be public knowledge. Was that a test or was it...?
Conservative
Tamara Jansen Conservative Cloverdale—Langley City, BC
I will ask again. I make these questions as easy as possible.
Minister, when oil prices rise, Canadians pay more at the pumps. Is that correct?
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
I would say we're not immune to the rise of external factors that control the price of oil.
Conservative
Liberal
François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC
Typically, if the price of a natural resource such as gas goes up, there will be higher revenue.
Conservative
Tamara Jansen Conservative Cloverdale—Langley City, BC
All right. Your department says a sustained 10% increase in oil prices adds $2.6 billion in federal revenues in year one. Is that correct?