Finance committee  Governments have promised tax reform since 1967, and that was the last time it happened, so let's get to it.

Finance committee  I think it's a pretty reasonable concern to have. It's not something that's come across my desk. However, that seems at first glance to not make a whole lot of sense, to be honest. It's actually something I'd be happy to discuss further.

Finance committee  I wouldn't disagree.

Finance committee  One of the main avenues we've been focusing on, on that front, is applying an economic lens to regulatory affairs. Again, as I mentioned in my opening remarks, this was something that was first proposed in the 2017 final report of the advisory council on economic growth—that regulators take into greater consideration the economic impact of what they're proposing and how they're regulating.

Finance committee  Of course, it's a start. The more child care spaces, the better, though. While the program has done very well in increasing the demand side of that, there are still supply constraints that prevent it from being fully realized. However, in terms of an effect on productivity, it could be nothing but positive.

Finance committee  Those are both important points to consider. The first one is streamlining the application procedure and making sure people can get here quickly. Even with the best of intentions to harmonize express-entry programs across provinces, we hear our members say they have a promising candidate but, through delays in the system, just aren't able to hire the candidate and bring them aboard on time.

Finance committee  That is well outside my area of expertise. On the face of it, yes, it would seem sensible. I hope Ms. Grynol has a more comprehensive answer than I can offer.

Finance committee  I'm happy to discuss the matter. Thank you. Seniors are some of our most knowledgeable and experienced workers, by virtue of their time in the workforce. At a time of a labour shortage, it would be a quick remedy to be able to make some of these changes, such as those you proposed.

Finance committee  I think the fundamental one that our members have agreed upon and praised the government for is the investments in clean electricity. This is going to underpin the transition to EVs. It's going to underpin the electrification of homes, and possibly even appliances, running on battery power rather than on and off the grid, so as to stabilize demand throughout.

Finance committee  I think it was imperative for the government to match the U.S. fundamentally. We have such an integrated economy with them. It would leave us in a very difficult economic position if we didn't recognize the moves they've made in that sense. We are grateful to see the government recognize that not acting to respond—whether it's to the IRA or the CHIPS Act—would be a fundamental problem for the Canadian economy.

Finance committee  I think, from our membership, we hear two key areas of concern that lead to lower productivity in the Canadian economy. One is the difficulty of investing in a way that will yield a reasonable return. As we noted during our criticism of the stock buyback tax, companies don't buy back their stocks just because they want to.

Finance committee  Thank you. Budget 2023 presented the government with an opportunity to enable and sustain the conditions necessary to grow our economy and raise future generations’ standard of living. Some elements are laudable. Taken as a whole, however, we see budget 2023’s lack of a decisive strategy to attract the investment required for a strong, sustainable economic future for Canada as a missed opportunity that would have ensured our competitive advantage in perpetuity.

Finance committee  The Canadian economy—I would hope, at least, and I think most outlooks agree—is resilient. Despite uncertain economic times ahead, it's still a job-seeker's market, so I hope there is a degree of resilience there. As to the fundamental point you're making, taxing investment is a bad thing.

Finance committee  As you mentioned before, it is an issue of significance to employers, absolutely. I think all sorts of.... I know there's been debate on whether it's a tax or not. It's a cost on business at the end of the day, and that needs to be balanced with the need for economic growth and the need for revenue.

Finance committee  Increasing the capital cost allowance is one of the recommendations I made earlier. It essentially allows companies to invest in capital assets and, for reporting purposes on their taxable income, to claim the amortization more readily. It's a clear incentive to get capital assets or make additions to existing capital assets more quickly, especially in comparison with recent federal tax changes in the U.S. with the Tax Cuts and Jobs Act, which increases the similar amortization to 100%.