Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 25 - Minutes of Proceedings
OTTAWA, Wednesday, November 28, 2001
(27)
[English]
The Standing Committee on Banking, Trade and Commerce met at 3:35 p.m. this day, in room 505, Victoria Building, the Chair, the Honourable Senator Kolber, presiding.
Members of the committee present: The Honourable Senators Angus, Fitzpatrick, Furey, Hervieux-Payette, P.C., Kelleher, P.C., Kolber, Kroft, Mahovlich, Meighen, Oliver, Poulin and Tkachuk (12).
Other senator present: The Honourable Senator Gustafson (1).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Economic Division: Mr. Alexandre Laurin, Research Officer.
Also in attendance: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on Tuesday, March 20, 2001, the committee resumed its examination into the present state of the domestic and international financial system. (See Issue No. 6, March 28, 2001, for full text of the Order of Reference.)
WITNESSES:
On Canada-United States Borders Issues:
From the Railway Association of Canada:
Bruce Burrows, Vice-President, Public Affairs and Government Relations;
Chris Jones, Director, Federal-Provincial Government Liaison.
On Equity Financing:
From Macdonald & Associates Limited:
Mary Macdonald, President;
Kirk Falconer, Director, Research and Analysis.
From the Association of Labour Sponsored Investment Funds:
Dale Patterson, Executive Director;
Dr. Calvin Stiller, CEO, Canadian Medical Discoveries Fund Inc.;
Ken Delaney, President & CEO, First Ontario Fund;
Michael Steplock, President & CEO, Retrocom Growth Fund.
From the Solidarity Fund QFL:
Fernand Daoust, Special Advisor to the President;
Maurice Prud'homme, Group Vice-President, Partnerships;
Guy Versailles, Vice-President, Communications, Marketing and Public Relations.
With regards to the committee's study on Canada-United States Borders Issues, Mr. Burrows and Mr. Jones from the Railways Association of Canada made an opening statement and answered questions.
Mr. Burrows and Mr. Jones agreed to forward, at a later date, information on the difference between the railways and trucking industries.
With regards to the committee's study on equity financing, Ms Macdonald made an opening statement and with the assistance of Mr. Falconer answered questions.
Mr. Patterson made an opening statement and with the other witnesses from the Association of Labour Sponsored Investment Funds answered questions.
Mr. Daoust made an opening statement and with the other witnesses from the Solidarity Fund QFL answered questions.
It was agreed - That correspondence from Crocus Investment Fund be tabled with the committee.
It was agreed - That staff of the committee be directed to update the committee's draft report on Financing the growth of small and medium sized businesses in Canada.
At 6:15 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Denis Robert
Clerk of the Committee