FINA Committee Meeting

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Minutes of Proceedings

Standing Committee on Finance (FINA)

45th Parliament, 1st Session

Meeting 46

Wednesday, June 10, 2026, 1:32 p.m. to 6:36 p.m.

Room 430, Wellington Building, 197 Sparks Street

Webcast

Presiding

Hon. Karina Gould, Chair (Liberal)

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Members of the Committee present

Liberal

Conservative

Acting Members present

• Jessica Fancy for Carlos Leitão (Liberal)

• Tamara Kronis for Eric Lefebvre (Conservative)

• Tamara Kronis for Sandra Cobena (Conservative)

• Tamara Kronis for Jasraj Hallan (Conservative)

• Philip Lawrence for Sandra Cobena (Conservative)

• Philip Lawrence for Eric Lefebvre (Conservative)

• Greg McLean for Pat Kelly (Conservative)

• Costas Menegakis for Sandra Cobena (Conservative)

• Rob Moore for Sandra Cobena (Conservative)

• Peter Schiefke for Ryan Turnbull (Liberal)

• Gabriel Ste-Marie for Jean-Denis Garon (Bloc Québécois)

• William Stevenson for Pat Kelly (Conservative)

• Shannon Stubbs for Jasraj Hallan (Conservative)

• Chris Warkentin for Eric Lefebvre (Conservative)

Other Members present

• Laila Goodridge (Conservative)

• Costas Menegakis (Conservative)

In attendance

House of Commons

• Ariane Calvert, Procedural Clerk

• Alexie Labelle, Legislative Clerk

• Michelle Legault, Legislative Clerk

• Tina Miller, Procedural Clerk

• Andrew Wilson, Legislative Clerk

Bill C-30, An Act to implement certain provisions of the spring economic update tabled in Parliament on April 28, 2026

Witnesses

Canadian Food Inspection Agency

• Lindsay Wild, Director, Regulatory, Legislative and Economic Affairs

Department of Finance

• Galen Countryman, Director General, Federal-Provincial Relations

• Mark Maxson, Senior Director, Employment and Education, Personal Income Tax Division

• Justin Stuart, Senior Director, Income Security

• Mark Walsh, Senior Director, Savings and Investment

• Shane Baddeley, Director, Economic Development

Department of Health

• Shannon Laforce, Director General

• Jordan Hancey, Director, Policy and Regulatory Affairs

Department of Transport

• John Voortman, Associate Director General, Air Policy

Pursuant to the order of reference of Tuesday, May 26, 2026, and the motion adopted by the committee on Thursday, May 7, 2026, the committee resumed consideration of Bill C-30, An Act to implement certain provisions of the spring economic update tabled in Parliament on April 28, 2026.

The committee resumed its clause-by-clause study of the Bill.

The committee resumed clause-by-clause consideration on new Clause 43.1 of the Bill.

The committee resumed consideration of the amendment of Pat Kelly, — That Bill C-30 be amended by adding after line 18 on page 22 the following new clause:

“Reports to Parliament

43.1 (1)Within three months after the day on which this section comes into force, the Minister of Finance must prepare a report on the projected impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.

(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.

(3)Five years after the day on which the report is tabled under subsection (2), the Minister of Finance must prepare a report on the impact of the amendments to the Canada Pension Plan contained in this Division on the financial state of the Canada Pension Plan and on contribution rates.

(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.

The committee resumed consideration of the subamendment of Philip Lawrence, — That the amendment be amended by adding after subsection 43.1(1) the following:

“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include projected Canada Pension Plan assets in both nominal and inflation-adjusted dollars and must include, to the extent that the information is available, projected assets per contributor and projected assets per beneficiary.”. 

The question was put on the subamendment of Philip Lawrence and it was negatived on the following recorded division:

YEAS: Sandra Cobena, Pat Kelly, Tamara Kronis, Philip Lawrence — 4;

NAYS : Jessica Fancy, Steeve Lavoie, Kent MacDonald, Danielle Martin, Jake Sawatzky, Peter Schiefke — 6.

The committee resumed consideration of the amendment of Pat Kelly, — That Bill C-30 be amended by adding after line 18 on page 22 the following new clause:

“Reports to Parliament

(2) The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.

(4)The Minister of Finance must cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the report is completed.

Philip Lawrence moved, — That the amendment be amended by adding after subsection 43.1(1) the following:

“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include a plain-language explanation of any projected reduction in Canada Pension Plan assets resulting from the amendments contained in this Division, including an explanation that lower projected assets do not necessarily indicate reduced pension security if assets remain sufficient relative to projected obligations.”. 

The Chair ruled the proposed subamendment inadmissible as the question was substantially the same as a previously submitted subamendment.

Sandra Cobena moved, — That the amendment be amended by adding after subsection 43.1(1) the following:

“(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include representative examples showing the estimated annual impact of the reduction in contribution rates on employees, employers and self-employed persons at different levels of pensionable earnings, including earnings of $50,000, $70,000 and the maximum pensionable earnings for the relevant year.”. 

Debate arose thereon.

At 2:24 p.m., the meeting was suspended.

At 2:42 p.m., the meeting resumed.

The committee resumed consideration of the subamendment of Sandra Cobena, — That the amendment be amended by adding after subsection 43.1(1) the following:

At 3:17 p.m., the meeting was suspended.

At 5:09 p.m., the meeting resumed.

The committee resumed consideration of the subamendment of Sandra Cobena, — That the amendment be amended by adding after subsection 43.1(1) the following:

On motion of Ryan Turnbull, it was agreed, — That the committee do now adjourn.

At 6:36 p.m., the committee adjourned to the call of the Chair.

Danielle Widmer,

Vicky Sedhya Maurice-Sevigny

Clerks of the committee