Standing Committee on Finance – June 3, 2010

In Committee from the House of Commons

Standing Committee on Finance – June 3, 2010

Parliamentary budget officer Kevin Page provided a preliminary analysis of Bill C-290, which would provide a tax credit for loss of retirement income. The private member’s bill is sponsored by the Bloc Québécois.

Page indicated that there was a big difference in the cost estimates that had been prepared by the Bloc and by the government, mainly due to a different legislative interpretation of the bill. The Bloc feels that the bill narrowly targets certain workers, while the government thinks that there is a wider application. Page provided a preliminary cost for both interpretations: $5 million a year for the Bloc’s estimates, and $10 billion for the government’s. The committee also heard from Page’s colleagues Sahir Khan and Jason Jacques.