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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 18 - Minutes of Proceedings - May 16, 2012


OTTAWA, Wednesday, May 16, 2012
(38)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 1:02 p.m., in room 160-S, Centre Block, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Gerstein, Greene, Harb, Hervieux-Payette, P.C., Massicotte, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (11).

Other senator present: The Honourable Senator Rivard (1).

In attendance: John Bulmer, June Dewetering and Adriane Yong, Analysts, Parliamentary Information and Research Service, Library of Parliament; David Charbonneau, Communications Officer.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Thursday, May 3, 2012, the committee began its examination of the subject-matter of those elements contained in Divisions 2, 10, 11, 22, 28, and 36 of Part 4 of Bill C- 38, An Act to implement certain provisions of the budget tabled in Parliament on March 29, 2012 and other measures.

APPEARING:

The Honourable James M. Flaherty, P.C., M.P., Minister of Finance.

WITNESSES:

Department of Finance Canada:

Jeremy Rudin, Assistant Deputy Minister, Financial Sector Policy Branch;

Jane Pearse, Director, Financial Institutions;

James Wu, Chief, Financial Institutions Analysis;

Veronica C. Wessels, Expert Advisor, Financial Institutions Division;

Eleanor Ryan, Senior Chief, Financial Institutions Framework Policy, Financial Institutions Division;

Annie Hardy, Chief, Structural Issues;

Ling Wang, Chief, Housing Finance Review, Financial Institutions Division, Housing Finance Review;

Tamara Miller, Chief, Labour Markets, Employment and Learning.

Industry Canada:

Gerard Peets, Senior Director, Strategy and Planning Directorate;

Patricia Brady, Director, Investment, Insolvency, Competition and Corporate Policy Directorate.

Human Resources and Skills Development Canada:

Anthony Giles, Director General, Strategic Policy, Analysis and Workplace Information Directorate.

The chair made an opening statement.

The minister made a statement, and, together with Messrs. Rudin and Giles, and Ms. Brady, answered questions.

At 2 p.m., the committee suspended.

At 2:10 p.m., the committee resumed.

Mr. Rudin made a statement, and together with Ms. Pearse, Ms. Hardy and Ms. Wang, answered questions.

Mr. Giles and Mr. Peets each made a statement and together with Ms. Brady and Ms. Miller, answered questions.

At 3:00 p.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee