Finance committee  The population is being informed in either situation because of the requirements on the minister to table reports in advance of making borrowings at the beginning of each fiscal year and at the end. Whether the borrowings were approved by Parliament or the Governor in Council, t

Finance committee  Extraordinary circumstances by their nature are difficult to define, because we don't know what we don't know. We have provided a number of examples in the bill, including a natural disaster or circumstances that imperil the stability of the financial system in Canada. These are

Finance committee  Absolutely.

Finance committee  Correct.

Finance committee  Agent crown corporations, that is correct.

Finance committee  Certainly. The current process essentially means that when the Minister of Finance wishes to increase market borrowing, he or she makes a submission to the Governor in Council. Once the Governor in Council approves, the minister has the authority to proceed. What is being propo

Finance committee  That is correct.

Finance committee  Thank you for the question. You're correct, Mr. Champagne, that prior to 2007 the Minister of Finance was required to come before Parliament and seek authority to increase market borrowing. I want to make it clear that even under the pre-2007 provisions, the minister had standi

Finance committee  Thank you, Mr. Chair. As you mentioned, we are here to speak to you about part 4, division 8, with respect to the Financial Administration Act. These proposals are with respect to the provisions in part 4 of the bill, which I will refer to as the FAA for short. This part author

Finance committee  If the proposal goes forward, the Mint will not be able to charge a profit on domestic coinage or on other goods and services that it sells to the government. So, yes, the Mint's net profit from those business lines will decline; however, it will continue to be able to make a pro

Finance committee  In the sense that it will have less profit overall than it has had in the past, yes.

Finance committee  It's difficult to quantify, because the Mint produces different amounts of coin in any given year, and the value of the numismatic business lines changes over time, so it's something that we will have to negotiate with the Mint by re-negotiating the memorandum of understanding th

Finance committee  The Mint's profit for 2013 after taxes was about $36 million. A significant portion of that has traditionally come from the domestic circulation coin business. Traditionally, this has been the Mint's largest source of profit. However, with the growth of its numismatic business, t

Finance committee  I don't have that figure in front of me.

Finance committee  Absolutely.