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

Issue 39 - Minutes of Proceedings

OTTAWA, Thursday, November 5, 1998
(77)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in Room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Callbeck, Di Nino, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kolber, Kroft and Oliver (9).

Other senators present: The Honorable Senators Joyal, P.C. and St. Germain, P.C.

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

Note: Senator Kelleher did not participate in the discussion with ING Bank of Canada.

WITNESSES:

From the Business Development Bank of Canada:

Mr. Michel Vennat, Chairman of the Board; and

Mr. François Beaudoin, President and Chief Executive Officer.

From ING Bank of Canada:

Mr. Arkadi Kuhlmann, President and Chief Executive Officer.

From the Export Development Corporation:

Mr. Ian Gillespie, President and Chief Executive Officer.

From the Canadian Federation of Independent Business:

Ms Catherine S. Swift, President and Chief Executive Officer;

Mr. Brien G. Gray, Senior Vice-President, Policy and Provincial Affairs; and

Mr. Garth White, Vice-President, National Affairs.

Mr. Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the Task Force on the Future of the Canadian Financial Services Sector. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)

Mr. Vennant made an opening statement and then, along with Mr. Beaudoin, answered questions.

Mr. Kuhlmann made an opening statement and then answered questions.

Mr. Gillespie made an opening statement and then answered questions.

Ms Swift made an opening statement and then, along with Mr. Gray and Mr. White, answered questions.

At 12:30 p.m., the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Thursday, November 5, 1998
(78)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 1:00 p.m. in Room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kolber, Kroft, Meighen, Oliver and Stewart (11).

Other senator present: The Honourable Senator Poy.

In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the National Anti-Poverty Organization:

Ms Laurie Rektor, Executive Director.

From the National Council of Women of Canada:

Ms Elizabeth Hutchinson, President;

Ms Helen Saravanamuttoo, Vice-President; and

Ms Shirley McBride, Convenor of Economics.

From the Council of Canadians:

Mr. Peter Bleyer, Executive Director; and

Mr. Jamie Dunn.

From the Power Corporation of Canada:

Mr. Jim Burns, President, Power Corporation of Canada and Chairman, Great West Life; and

Mr. Ted Johnson, Counsel.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the Task Force on the Future of the Canadian Financial Services Sector. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)

Ms Rektor made an opening statement and then answered questions.

Ms Hutchinson made an opening statement and then, along with the other witnesses, answered questions.

Mr. Bleyer made an opening statement and then, along with Mr. Dunn, answered questions.

Mr. Burns made an opening statement and then, along with Mr. Johnson, answered questions.

At 4:00 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Gary Levy

Clerk of the Committee