International Trade committee  I believe the administrative costs in the past were in the 1% range. But here the government has also said that it wants to rely on these proceeds for legal costs. It could be associated with the dispute mechanism. The agreement said that a portion of the $1 billion was to be ass

International Trade committee  On the first point, my reference to the draconian nature of the bill is to the provisions of enforcement. As I commented earlier, and as Mr. Pearson seems to be concurring, there is a view that this is not abnormal for Canadian tax law, and it's hard for me to go much beyond that

International Trade committee  Thank you for that. Obviously we need to clarify here. Mr. Julian is absolutely correct that this is my preoccupation, if you will. It's what I consider to be the principal defect in the bill. The bill as written does double-tax the EDC participants. The first is not technicall

International Trade committee  They get the 82.5% under their purchase and sale agreement and the irrevocable power of attorney that they signed over to the United States and to Canada. Through those two agreements they're getting back less than 100%. They're getting back roughly 82.5%. But then their refund i

International Trade committee  Thank you. I believe that what what involved was in fact several questions. Let me take the last statement first. I suggest that you simply delete section 18. If I remember the sequence of events correctly, I was here on the day that Monsieur Guy Chevrette said that if the gover

International Trade committee  Thank you for that question. Parliament has the option of incorporating Annex 1A. I wouldn't encourage Parliament to do that, because it's the American definitions of all the terms. Annex 1A is crafted out of the provisions of the orders, and Parliament is under no obligation t

International Trade committee  The United States has defined those terms, and you have a choice—

International Trade committee  But you have a choice, because this legislation does not presently incorporate Annex 1A as your definitions.

International Trade committee  If I may, Mr. Maloney, rob 30 seconds of your time to amplify something that Mr. Pearson just said, the meaning of “softwood log” was debated through the last round of litigation. In Ontario this has been a particularly difficult debate because a softwood log is defined as a log

International Trade committee  Let me come to your question now. I reviewed some of the discussion in last week's hearing; I had the privilege to do that thanks to whoever sent me the transcript. I saw that you had raised this question before. My annotated version--you can see all the red and green tabs--ha

International Trade committee  That is correct.

International Trade committee  Unless the phrase “"specifically provided” is changed, which certainly could be done, and unless, therefore, there was reliance not on the Financial Administration Act but on something internal to this legislation, then those who've received 82%, under the terms of the bill, woul

International Trade committee  Yes.

International Trade committee  I did this out once. Roughly, I think they come out with something like 67%—maybe it's a bit higher, but it's something like that, I think.

International Trade committee  Yes, the income tax is another issue, but essentially, because of the way this legislation is currently crafted, the softwood companies would be getting 67¢ back on the dollar, and that's not even including the exchange laws.