Proceedings of the Standing Senate Committee on
National Finance

Issue 43 - Minutes of Proceedings -  June 12, 2013


OTTAWA, Wednesday, June 12, 2013
(118)

[English]

The Standing Senate Committee on National Finance met this day at 6:45 p.m., in room 9, Victoria Building, the chair, the Honourable Joseph A. Day, presiding.

Members of the committee present: The Honourable Senators Bellemare, Black, Buth, Callbeck, Chaput, Day, De Bané, P.C., Gerstein, Hervieux-Payette, P.C., Mockler, Smith (Saurel) and Wells (12).

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

In attendance: Édison Roy-César and Sylvain Fleury, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, May 21, 2013, the committee began its examination of Bill S-217, An Act to amend the Financial Administration Act (borrowing of money).

WITNESSES:

The Honourable Senator Wilfred Moore, sponsor of the bill.

Department of Finance Canada:

Wayne Foster, Director, Financial Markets Division, Financial Sector Policy Branch;

Marie-Josée Lambert, Chief, Domestic Debt Management Policy, Financial Sector Policy Division.

Bank of Canada:

Ron Morrow, Chief, Funds Management and Banking Department.

As individuals:

Lori Turnbull, Assistant Professor, Dalhousie University.

Peter Devries, Consultant on Fiscal Affairs.

The Honourable Senator Wilfred Moore made a statement and answered questions.

At 7:28 p.m., the committee suspended.

At 7:30 p.m., the committee resumed.

Mr. Foster and Mr. Morrow each made a statement and, together with Ms. Lambert, answered questions.

At 8:16 p.m., the committee suspended.

At 8:19 p.m., the committee resumed.

Mr. Devries and Ms. Turnbull each made a statement and answered questions.

At 9:02 p.m., the committee adjourned to the call of the chair.

ATTEST:

Jodi Turner

Clerk of the Committee