Finance Committee on Oct. 5th, 2026

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.

On the agenda

Bill C-31

Bill C-38

Members speaking

Before the committee

François-Philippe Champagne Minister of Finance and National Revenue

Lefebvre Richmond—Arthabaska—des-Sources, CPC

Genest-Grégoire Assistant Professor, Department of Taxation, Université de Sherbrooke, As an Individual

Au Associate Professor of Finance, As an Individual

Jarvis Ontario Director, Canadian Taxpayers Federation

Gagnon Quebec Director, Canadian Taxpayers Federation

October 5th, 2026 / 5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

Listen, I'm going to have to come back to you to look at the assumptions you're making, the price of oil that you're using and—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

That's no problem. It's on the website.

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

—the period you're talking about.

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

Your department put that out. It will be $3.5 billion in year two. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

Listen, I don't know what you're reading, but if the question is—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

It's a departmental document.

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

We'll be happy, if you send me the question, to provide you with the analysis, because it depends on the period, the price of oil—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

I got it off your department's website.

Higher oil prices hurt Canadians but improve Ottawa's bottom line. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

Can you repeat that?

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

High oil prices hurt Canadians but improve Ottawa's bottom line. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

I'm not sure I understand the question. What is “Ottawa”?

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

It's the government.

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

Government is...you would say—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

Anyway, you can use this additional revenue to keep fuel taxes down. That's what we're doing here. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

I'm trying to follow you.

Give me the first question, and then I'll try to follow the logic.

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

I'm going to continue, because those were very simple questions.

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

I appreciate that, but you—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

You're already putting half the fuel tax back on February 1. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

On February 1—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

Half the fuel tax—

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

It would go back to—

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

Right, exactly.

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

—half of it, the normal rate.

5:20 p.m.

Conservative

Tamara Jansen Conservative Cloverdale—Langley City, BC

The full tax would go back on April 1. Is that correct?

5:20 p.m.

Liberal

François-Philippe Champagne Liberal Saint-Maurice—Champlain, QC

It would go back to the normal rate.