Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 11 - Ninth, Tenth, Eleventh, Twelfth and Thirteenth Reports of the Committee
Wednesday, April 20, 2005
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
NINTH 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 the approval of funds for fiscal year 2005- 2006.
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, 2006
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 | $ 26,000 |
| Transportation and Communications | 0 |
| All Other Expenditures | $ 2,000 |
| TOTAL | $ 28,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on February 17, 2005.
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 | 2004-2005* |
| Total approved | $25,000 |
| Expenditures | $115 |
*2004-2005 expenditures are as of Feb. 14, 2005
STANDING SENATE 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, 2006
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (30 days at $ 600 per day) | $ 18,000 | ||
| 2.Working Meals (0415) | |||
| Working lunches and dinners (20 meals at $ 400) | 8,000 | ||
| TOTAL | $ 26,000 |
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
Thursday, April 14, 2005
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Senate Standing Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2006 for the purpose of its Special Study on Consumer issues arising in the financial sector, as authorized by the Senate on Tuesday, November 16, 2004. The said budget is as follows:
| Professional and Other Services | $ 26,000 |
| Transportation and Communications | 0 |
| All Other Expenditures | $ 2,000 |
| TOTAL | $ 28,000 |
Respectfully submitted,
GEORGE J. FUREY
Chair
Wednesday, April 20, 2005
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
TENTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, November 23, 2004 to examine and report on issues dealing with the demographic change that will occur in Canada within the next two decades, 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 DEMOGRAPHICS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
Extract from the Journals of the Senate of Tuesday, November 23, 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 issues dealing with the demographic change that will occur in Canada within the next two decades; the implications of that change for Canada's economy, labour market and retirement income system; and federal actions that could be taken to ensure that any implications of future demographic change are, to the extent possible, properly addressed; and
That the Committee submit its final report no later than June 30, 2005.
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 | $ 4,500 |
| Transportation and Communications | 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on February 17, 2005.
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 SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON DEMOGRAPHICS
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (5 days at $ 600 per day) | $ 3,000 | ||
| 2.Working Meals (0415) | |||
| Working lunches and dinners (2 meals at $ 750) | 1,500 | ||
| TOTAL | $ 4,500 |
TRANSPORTATION AND COMMUNICATIONS
| TOTAL | $ 0 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | $ 1,500 | ||
| TOTAL | $ 1,500 |
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
Thursday, April 14, 2005
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Senate Standing Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2006 for the purpose of its Special Study on Demographics, as authorized by the Senate on Tuesday, November 23, 2004. The said budget is as follows:
| Professional and Other Services | $ 4,500 |
| Transportation and Communications | 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
Respectfully submitted,
GEORGE J. FUREY
Chair
Wednesday, April 20, 2005
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
ELEVENTH 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 travel outside Canada 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 THE PRESENT STATE OF THE DOMESTIC AND INTERNATIONAL FINANCIAL SYSTEM
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
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 Senate
SUMMARY OF EXPENDITURES
| Professional and Other Services | $ 26,050 |
| Transportation and Communications | $ 76,150 |
| All Other Expenditures | $ 2,000 |
| TOTAL | $ 104,200 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on February 17, 2005.
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 | 2001-2002 | 2002-2003 | 2003-2004 | 2004-2005* |
| Total approved | $30,000 | $277,200 | $63,000 | $36,650 |
| Expenditures | $0 | $131,146 | $38,333 | $97 |
*2004-2005 expenditures are as of Feb. 14, 2005.
STANDING SENATE 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, 2006
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (20 days at $ 600 per day) | $ 12,000 | ||
| 2.Working Meals (0415) | |||
| Working lunches and dinners (15 meals at $400) | 6,000 | ||
| 3.Working Meals (0415) | |||
| Working lunches and dinners (New York-Washington) (2 meals at $ 1400) | 2,800 | ||
| 4. Translation and Interpretation Services (0412) | |||
| (for trip to New York-Washington) ($625 x 2 days) | 1,250 | ||
| 5. Hospitality (0410) | 2,000 | ||
| 6. Membership and Registration fees (0406) | 2,000 | ||
| TOTAL | $ 26,050 |
TRANSPORTATION AND COMMUNICATIONS
| 1. Travel Expenses (0201) | |||
| A. Ottawa - New York - Washington (15 participants - 12 Senators and 3 staff) |
|||
| Air transportation: | |||
| 15 x 2,300 | $ 34,500 | ||
| Ground Transportation: | |||
| Taxis: $250 x 15 | 3,750 | ||
| Minibus rental: $1100 x 2 days | 2,200 | ||
| Train (New York to Washington): $300 x 15 | 4,500 | ||
| Per diem and incidentals: | |||
| $100 x 15 x 3 days | 4,500 | ||
| Hotel accommodations: | |||
| 2 nights at $485/night x 15 participants | 14,550 | ||
| Contingencies: | 3,000 | ||
| $ 67,000 | |||
| B. Work on behalf of the Committee | |||
| (Participation at conferences) | |||
| Air transportation | 6,000 | ||
| Ground transportation | 400 | ||
| Hotel | 1,600 | ||
| Per diem | 400 | ||
| Contingencies: | 750 | ||
| $ 9,150 | |||
| TOTAL | $ 76,150 |
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
Thursday, April 14, 2005
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Senate Standing Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2006 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 | $ 26,050 |
| Transportation and Communications | $ 66,850 |
| All Other Expenditures | $ 2,000 |
| TOTAL | $ 94,900 |
(includes funding for fact-finding missions and conference attendance)
Respectfully submitted,
GEORGE J. FUREY
Chair
Wednesday, April 20, 2005
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
TWELFTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, November 23, 2004 to examine and report on issues dealing with interprovincial barriers to trade, 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 INTERPROVINCIAL
BARRIERS TO TRADE
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
Extract from the Journals of the Senate of Tuesday, November 23, 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 issues dealing with interprovincial barriers to trade, in particular the barriers that exist; the extent to which they are limiting the growth and profitability of the affected sectors; and measures that could be taken by the federal government to facilitate the elimination of such barriers in order to enhance trade; and
That the Committee submit its final report no later than June 30, 2005.
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 | $ 4,500 |
| Transportation and Communications | $ 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on February 17, 2005.
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 SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON INTERPROVINCIAL BARRIERS TO TRADE
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (5 days at $ 600 per day) | $ 3,000 | ||
| 2.Working Meals (0415) | |||
| Working lunches and dinners (2 meals at $750) | 1,500 | ||
| TOTAL | $ 4,500 |
TRANSPORTATION AND COMMUNICATIONS
| TOTAL | $ 0 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | 1,500 | ||
| TOTAL | $ 1,500 |
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
Thursday, April 14, 2005
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Senate Standing Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2006 for the purpose of its Special Study on Interprovincial Barriers to Trade, as authorized by the Senate on Tuesday, November 23, 2004. The said budget is as follows:
| Professional and Other Services | $ 4,500 |
| Transportation and Communications | $ 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
Respectfully submitted,
GEORGE J. FUREY
Chair
Wednesday, April 20, 2005
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
THIRTEENTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, November 23, 2004 to examine and report on issues dealing with productivity, 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 PRODUCTIVITY
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
Extract from the Journals of the Senate of Tuesday, November 23, 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 issues dealing with productivity, in particular the rate of productivity in Canada and in relation to our major trading partners (especially the United States); the extent to which the rate of productivity is limiting economic growth and the well-being of Canadians; and federal and other measures that could be taken to enhance Canada's rate of productivity growth and competitiveness; and
That the Committee submit its final report no later than June 30, 2005.
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 | $ 4,500 |
| Transportation and Communications | $ 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on February 17, 2005.
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 SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON PRODUCTIVITY
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2006
PROFESSIONAL AND OTHER SERVICES
| 1. Expert consultants (0401) & (0435) | |||
| (5 days at $ 600 per day) | $ 3,000 | ||
| 2. Working Meals (0415) | |||
| Working lunches and dinners (2 meals at $750) | 1,500 | ||
| TOTAL | $ 4,500 |
TRANSPORTATION AND COMMUNICATIONS
| TOTAL | $ 0 |
ALL OTHER EXPENDITURES
| 1. Miscellaneous expenses (0799) | 1,500 | ||
| TOTAL | $ 1,500 |
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
Thursday, April 14, 2005
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Senate Standing Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2006 for the purpose of its Special Study on Productivity, as authorized by the Senate on Tuesday, November 23, 2004. The said budget is as follows:
| Professional and Other Services | $ 4,500 |
| Transportation and Communications | $ 0 |
| All Other Expenditures | $ 1,500 |
| TOTAL | $ 6,000 |
Respectfully submitted,
GEORGE J. FUREY
Chair