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Finance committee I do think that coming out of this pandemic, and the longer it is and if there is a resurgence next fall, there's going to be a huge amount of damage to the economy. We're going to have to start thinking about what, in public policies, we could do that would be growth-oriented. W
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee I think there would have to be some rough justice no matter what you do. We have data on the typical margins in the retail sector, for example, versus manufacturing, etc. What could have been done perhaps is to have some differential rules around that. For example, you might say
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee That's exactly the idea I had in mind—using the banking system more. That could actually provide much more immediate relief. I think this idea that we're going to hold that money for six weeks is not the best, just because we need to create a portal that.... Who knows how fast th
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee First of all, there are a couple of areas that I think one should pay some attention to. One is with respect to the sectors themselves. It's particularly important on the energy side, but I don't want to get into the view of picking one industry over another. You have to remember
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee I am going to check. I think unincorporated businesses potentially could be included because they would have a business number, typically, for GST purposes—
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee The one concern, though, is that—and one would like to hear from Finance about why they were excluded—in unincorporated businesses, there are a lot of people who also have other sources of income, so it becomes another support program for a particular individual who might be gett
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee Well, I think that's an interesting proposal. In fact, you can attach it to some of the other programs as a way of getting a very quick down payment and then clawing back some of the other programs that are being made available. This way you're not building up on—
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee Just on the GST, though, we have to remember that some businesses are exporters and don't charge a lot of GST, or they might be an exempt business, so they don't actually collect much GST. I think that if you want a kind of general approach so that everybody gets support, mecha
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee Thank you. This is a comment particularly at the federal level, but also for a number of the provinces, in fact, maybe most of them. I think there needs to be a lot more use of faster means of trying to get money into the hands of businesses, and to some extent, individuals. So
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee Thank you very much, Mr. Chairman. I am actually going to be very brief. I did not prepare a discussion. I decided that I just want to make two or three points, but I would rather leave it to the question period for people to ask me any questions at all. I also want to be up fr
April 3rd, 2020Committee meeting
Dr. Jack Mintz
Finance committee I really don't have that much more to add to what I already said. I think I'll just stop there.
March 12th, 2020Committee meeting
Dr. Jack Mintz
Finance committee There are two places that I can think of. One is Hong Kong, which lately is having its own challenges, but if you look at the history of Hong Kong, it's had a tremendous amount of success. In fact, it moved away from manufacturing, because a lot of the manufacturing industry move
March 12th, 2020Committee meeting
Dr. Jack Mintz
Finance committee I think one of the first things is to make very clear what the criteria will be for awarding the money. I know there was a competition that went on, although it was amazing how it was regionally distributed across Canada in the end, which kind of asks the question whether the cri
March 12th, 2020Committee meeting
Dr. Jack Mintz
Finance committee Well, I'll start on that one. First of all, I think we need to go back to history a little bit. The project itself would make a lot of money. There's no question that it would have been able to charge a toll that many shippers were interested in. Why? Because it was an opportuni
March 12th, 2020Committee meeting
Dr. Jack Mintz
Finance committee Well, I haven't taken a poll to talk about political views on it, but I think what your point raises goes back, I think, to the heart of the question: What's the point of the business subsidies in the first place? Today we're hearing a lot about the positive stuff. Even I would
March 12th, 2020Committee meeting
Dr. Jack Mintz