Finance committee  Thank you for that welcome, Mr. Chair. Hello, ladies and gentlemen. It seems that it is impossible at present to build housing for the poorest people, for the people who spend a large portion of their income on housing. In the documents prepared by the analysts for the meeting today, we see that at present, without eliminating the goods and services tax, the GST, it is not possible to build rental housing, even at market price, in Canadian cities.

Finance committee  There will be no affordability criterion. Thank you for your candour. Groups like Option consommateurs have submitted briefs. They say that we should drop the GST-related measure and improve the national housing strategy to help poor people find housing. Has the department evaluated that option?

Finance committee  I agree that that is not your job. Have you obtained an estimate of the number of units that will be built in Quebec, for example as a result of this GST-related measure, during the life of the policy?

Finance committee  So the department has not done any studies on this subject. This GST-related measure is supposed to be the cornerstone of a new housing policy in the government's economic statement. We know there will be no affordable units; that is what the documents say. As well, we do not know how many new units will be constructed.

Finance committee  It is important to clarify that, particularly for my constituents. It affects people's lives. If someone wants to build a triplex near a transportation corridor, for example, near the Saint-Janvier station in Mirabel, there will be no GST rebate. Is that correct?

Finance committee  Right. I understand. According to the documents we have received and what the ministers have said in the House, which is also a useful source of information for us, it is very important that Ottawa collaborate better with Quebec when it comes to building housing. The economic statement says that there will be a 5% rebate on the GST, but the Department of Finance strongly urges the provinces to propose a similar measure for their own taxes.

Finance committee  Right. To your knowledge, has the Government of Quebec announced that it was going to follow the federal government's measure and that it was consistent with its own housing policy?

Finance committee  Right. So collaboration consists of announcing a policy and hoping that the provinces will feel obliged to follow the federal government's measure. My next question is about the Competition Act. My colleague Mr. Ste-Marie asked a topical question earlier. The Minister's hypothesis is correct in many markets: if there is more competition, the people who raise their prices too much will leave the market.

Finance committee  Did you work on it in the department before September?

Finance committee  Thank you, Mr. Chair. I would like to take a bit of my speaking time to give notice of the following motion: That, pursuant to Standing Order 108(2), the Committee undertake a study on the carousel tax fraud scheme that international criminal networks are using to collect tax refunds for GST/QST and steal hundreds of millions of dollars from Canadian government coffers; That this study focus in particular on the following points: a) the reasons why Canada appears to be an easy target for this type of fraud; b) identifying and understanding the gaps in Canada’s tax system that make this type of fraud possible and easy to commit; and c) measures that should be taken by the government and the CRA to put an end to these scams and to reclaim taxpayers’ money; That the Committee invite the following witnesses to appear: 1) Appearing together for a period of two hours, former CRA Minister Diane Lebouthillier and current CRA Minister Marie-Claude Bibeau, accompanied by senior CRA officials; 2) For one hour, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland; 3) For two hours each, Marius-Cristian Frunza, an expert in carousel fraud, and Bo Elkjær, a Danish journalist who has been investigating this type of fraud in Europe since 2009; 4) For one hour, Samer Bishay, the CEO of Ontario telecommunications company Iristel; and 5) Any other witnesses the Committee deems necessary; That the Committee allocate a minimum of four meetings to this study; and That the Committee report its findings and recommendations to the House.

Finance committee  Mr. Mercille, in response to the questions I asked, we were told that there were no studies and it was not known whether affordability criteria will be included in Bill C-56. I am sensing some unease. I get the impression that the measure relating to the GST was put together off the cuff.

Finance committee  You do not seem to remember. That speaks volumes. Thank you.

Finance committee  Thank you. My only question is for Ms. Bardswick. I know that the Sustainable Finance Action Council gave environmental groups a seat at the table. It's quite recent, I know, but what role do you expect them to have in the council's operations?

Finance committee  Thank you, Mr. Chair. My last questions are for Mr. Stewart. Bank transparency has been a hot topic. Some are calling for the banks to report on their oil and gas investments, if not publicly, at least to the Office of the Superintendent of Financial Institutions, or OSFI. That call has obviously gotten stronger following media reports that RBC is one of the sector's biggest financiers.

Finance committee  What role could OSFI play?