Report of the committee
Thursday, December 5, 2024
The Standing Senate Committee on National Finance has the honour to present its
TWENTIETH REPORT
Your committee, to which was referred Bill C-78, An Act respecting temporary cost of living relief (affordability), has, in obedience to the order of reference of Tuesday, December 3, 2024, examined the said bill and now reports the same without amendment but with certain observations, which are appended to this report.
Respectfully submitted,
CLAUDE CARIGNAN
Chair
Observations to the twentieth report of the Standing Senate Committee on National Finance (Bill C-78)
Your committee agrees, in principle, with the intended goals of Bill C-78 to “put more money back into the pockets of Canadians” to help them with the cost of living.
The committee feels, however, that this measure may fail to make a real difference for those who are facing affordability issues. The committee heard testimony given regarding the administrative burden that will be shouldered by certain small and medium enterprises, as highlighted by representatives from a variety of business organizations and tax experts. Moreover, provinces and businesses were not officially consulted on the proposed tax changes.
The committee brings to the attention of the government witness testimony emphasizing that Bill C-78 will not adequately meet the needs of Canadians struggling to afford necessities including food and shelter.