Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 4 - Third, Fourth, Fifth, Sixth and Seventh Reports of the Committee
Thursday, December 9, 2004
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
THIRD REPORT
Your Committee, to which was referred Bill C-5, An Act to provide financial assistance for post-secondary education savings, has, in obedience to the Order of Reference of Wednesday, December 8, 2004, examined the said Bill and now reports the same without amendment but with observations, which are appended to this report.
Respectfully submitted,
Observations of the Standing Senate Committee
on Banking, Trade and Commerce
Your Committee notes that the Bill does not address concerns about financial and other supports for post-secondary education, and urges the appropriate Senate Committee to study, and recommend solutions, to these concerns.
Tuesday, December 14, 2004
The Standing Senate Committee on Banking, Trade and Commerce has the honour to table its
FOURTH REPORT
Your Committee, which was authorized by the Senate on Thursday, November 18, 2004 to examine and report on issues dealing with charitable giving in Canada, now respectfully tables its interim report entitled The Public Good and Private Funds: The Federal Tax Treatment of Charitable Giving by Individuals and Corporations.
Respectfully submitted,
Tuesday, December 14, 2004
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
FIFTH REPORT
Your Committee, which was authorized by the Senate on Thursday, November 18, 2004 to examine and report on issues dealing with charitable giving in Canada, respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel as may be necessary, for the purpose of such study.
Pursuant to Chapter 3:06, section 2(1)(c) of the Senate Administrative Rules, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON CHARITABLE GIVING
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
Extract from the Journals of the Senate of Thursday, November 18, 2004:
The Honourable Senator Grafstein moved, seconded by the Honourable Senator Ferretti Barth:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on issues dealing with charitable giving in Canada. In particular, the Committee shall be authorized to examine:
the needs and opportunities of Canadians in relation to various aspects of Canadian life (such as health care, education, social and cultural programs and institutions, senior care, heritage preservation, scientific research and more) and the ability of Canadians to assist in these areas through charitable giving;
current federal policy measures on charitable giving;
new or enhanced federal policy measures, with an emphasis on tax policy, which may make charitable giving more affordable for Canadians at all income levels;
the impact of current and proposed federal policy measures on charitable giving at the local, regional and national levels and across charities;
the impact of current and proposed federal policy measures on the federal treasuries; and
other related issues; and
That the Committee submit an interim report no later than December 16, 2004 and its final report no later than March 31, 2005, and that the Committee retain until May 31, 2005 all powers necessary to publicize its findings.
After debate,
The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senate
SUMMARY OF EXPENDITURES
| Professional and Other Services | $ 23,000 |
| Transportation and Communications | — |
| All Other Expenditures | $ 2,000 |
| TOTAL | $ 25,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on ______________.
The undersigned or an alternate will be in attendance on the date that this budget is considered.
| Date | The Honourable Jerahmiel S. Grafstein | |
| Chair, Standing Senate Committee on Banking, Trade and Commerce |
| Date | The Honourable George Furey | |
| Chair, Standing Committee on Internal Economy, Budgets, and Administration |
STANDING COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON CHARITABLE GIVING
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (40 days at $ 500 per day) | $ 20,000 | ||
| 2. Working Meals (0415) | |||
| Working lunches and dinners (10 meals at $ 300) | 3,000 | ||
| TOTAL | $ 23,000 |
TRANSPORTATION AND COMMUNICATIONS
| TOTAL | $ 0 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | 2,000 | ||
| TOTAL | $ 2,000 |
The Senate administration has reviewed this budget application.
| Heather Lank, Principal Clerk, Committees Directorate | Date |
| Hélène Lavoie, Director of Finance | Date |
APPENDIX (B) TO THE REPORT
Tuesday, December 14, 2004
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2005 for the purpose of its special study on charitable giving, as authorized by the Senate on Thursday, November 18, 2004. The said budget is as follows:
| Professional and Other Services | $ 23,000 |
| Transportation and Communications | — |
| Other Expenditures | 2,000 |
| Total | $ 25,000 |
Respectfully submitted,
GEORGE FUREY
Chair
Tuesday, December 14, 2004
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
SIXTH REPORT
Your Committee, which was authorized by the Senate on Wednesday, October 20, 2004 to examine and report upon the present state of the domestic and international financial system, respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel as may be necessary, for the purpose of such study.
Pursuant to Chapter 3:06, section 2(1)(c) of the Senate Administrative Rules, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE PRESENT STATE OF THE DOMESTIC AND INTERNATIONAL FINANCIAL SYSTEM
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
Extract from the Journals of the Senate of Wednesday, October 20, 2004:
The Honourable Senator Grafstein moved, seconded by the Honourable Senator Corbin:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report upon the present state of the domestic and international financial system;
That the papers and evidence received and taken on the subject during the Thirty-seventh Parliament and any other relevant Parliamentary papers and evidence on the said subject be referred to the Committee; and
That the Committee submit its final report no later than December 31, 2005.
After debate,
The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senatee
SUMMARY OF EXPENDITURES
| Professional and Other Services | $ 25,750 |
| Transportation and Communications | 69,070 |
| All Other Expenditures | 3,000 |
| TOTAL | $ 97, 820 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on _______________.
The undersigned or an alternate will be in attendance on the date that this budget is considered.
| Date | The Honourable Jerahmiel S. Grafstein | |
| Chair, Standing Senate Committee on Banking, Trade and Commerce | ||
| Date | The Honourable George Furey | |
| Chair, Standing Committee on Internal Economy, Budgets, and Administration |
FOR INFORMATION ONLY
| Fiscal year | 2000-2001 | 2001-2002 | 2002-2003 | 2003-2004 |
| Total approved | $123,023 | $30,000 | $277,200 | $63,000 |
| Expenditures | $44,017 | $0 | $131,146 | $38,333 |
STANDING COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE PRESENT STATE OF THE
DOMESTIC AND INTERNATIONAL FINANCIAL SYSTEM
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (30 days at $ 500 per day) | $ 15,000 | ||
| 2.Working Meals (0415) | |||
| Working lunches and dinners (20 meals at $ 300) | 6,000 | ||
| 3. Translation and Interpretation Services (0412) | |||
| (for trip to Washington) ($625 x 2 days) | 1,250 | ||
| 4. Hospitality (0410) | 2,000 | ||
| 5. Membership and Registration fees (0406) | 1,500 | ||
| TOTAL | $ 25,750 |
TRANSPORTATION AND COMMUNICATIONS
| 1. Travel Expenses (0201) | |||
| A. Ottawa — Washington (16 participants - 12 Senators and 4 staff) | 59, 920 | ||
| Air transportation: | |||
| 16 x 2,000 | $ 32,000 | ||
| Ground Transportation: | |||
| Taxis: $225 x 16 | 3,600 | ||
| Minibus rental: $750 x 2 days | 1,500 | ||
| Per diem and incidentals: | |||
| $100 x 16 x 3 days | 4,800 | ||
| Hotel accommodations: | |||
| 2 nights at $485/night x 16 participants | 15,520 | ||
| Contingencies: | 2,500 | ||
| B.Work on behalf of the Committee | |||
| (Participation at conferences) | 9,150 | ||
| Air transportation | 6,000 | ||
| Ground transportation | 400 | ||
| Hotel | 1,600 | ||
| Per diem | 400 | ||
| Contingencies: | 750 | ||
| TOTAL | $ 69,070 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | 2,000 | ||
| 2. Rentals (0500) | |||
| (Meeting room rental — Washington) | 1,000 | ||
| TOTAL | $ 3,000 |
The Senate administration has reviewed this budget application.
| Heather Lank, Principal Clerk, Committees Directorate | Date |
| Hélène Lavoie, Director of Finance | Date |
APPENDIX (B) TO THE REPORT
Tuesday, December 14, 2004
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2005 for the purpose of its special study on the present state of the domestic and international financial system, as authorized by the Senate on Wednesday, October 20, 2004. The approved budget is as follows:
| Professional and Other Services | $ 24,500 |
| Transportation and Communications | 9,150 |
| Other Expenditures | 3,000 |
| Total | $ 36,650 |
| (includes funds for conference attendance — trip to Washington, D.C., removed) |
Respectfully submitted,
GEORGE FUREY
Chair
Tuesday, December 14, 2004
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
SEVENTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, November 16, 2004 to examine and report on consumer issues arising in the financial services sector, respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel as may be necessary, for the purpose of such study.
Pursuant to Chapter 3:06, section 2(1)(c) of the Senate Administrative Rules, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
JERAHMIEL S. GRAFSTEIN
Chair
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON CONSUMER ISSUES ARISING IN
THE FINANCIAL SERVICES SECTOR
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
Extract from the Journals of the Senate of Tuesday, November 16, 2004:
The Honourable Senator Grafstein moved, seconded by the Honourable Senator Banks:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on consumer issues arising in the financial services sector. In particular, the Committee shall be authorized to examine:
the impact of federal legislation and initiatives designed to protect consumers within the financial services sector;
the role, corporate governance structure and effectiveness of agencies (including supervisory/regulatory and self-regulating), ombudspersons and others who play a role with respect to consumer protection and the supervision of the financial services sector;
consumer credit rates and reporting agencies; and
other related issues; and
That the Committee submit its final report no later than June 30, 2005, and that the Committee retain until August 31, 2005 all powers necessary to publicize its findings.
After debate,
The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senate
SUMMARY OF EXPENDITURES
| Professional and Other Services | $ 23,000 |
| Transportation and Communications | 0 |
| All Other Expenditures | 2,000 |
| TOTAL | $ 25,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on _______________.
The undersigned or an alternate will be in attendance on the date that this budget is considered.
| Date | The Honourable Jerahmiel S. Grafstein | |
| Chair, Standing Senate Committee on Banking, Trade and Commerce | ||
| Date | The Honourable George Furey | |
| Chair, Standing Committee on Internal Economy, Budgets, and Administration |
STANDING COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON CONSUMER ISSUES ARISING IN
THE FINANCIAL SERVICES SECTOR
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2005
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (40 days at $ 500 per day) | $ 20,000 | ||
| 2. Working Meals (0415) | |||
| Working lunches and dinners (10 meals at $ 300) | 3,000 | ||
| TOTAL | $ 23,000 |
TRANSPORTATION AND COMMUNICATIONS
| TOTAL | $ 0 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | 2,000 | ||
| TOTAL | $ 2,000 |
The Senate administration has reviewed this budget application.
| Heather Lank, Principal Clerk, Committees Directorate | Date |
| Hélène Lavoie, Director of Finance | Date |
APPENDIX (B) TO THE REPORT
Tuesday, December 14, 2004
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2005 for the purpose of its special study on consumer issues arising in the financial services sector, as authorized by the Senate on Tuesday, November 16, 2004. The said budget is as follows:
| Professional and Other Services | $ 23,000 |
| Transportation and Communications | 0 |
| All Other Expenditures | 2,000 |
| TOTAL | $ 25,000 |
Respectfully submitted,
GEORGE FUREY
Chair