The Standing Committee on Finance met in a televised session at 3:31 p.m. this day, in Room 237-C, Centre Block, the Chair, James Rajotte, presiding.

The witnesses made statements and answered questions.

At 5:01 p.m., the sitting was suspended.

At 5:04 p.m., the sitting resumed.

John McCallum moved, — That the Committee invite the Parliamentary Budget Officer to explain how his office arrives at its revenue and expenditure projections and that the Committee also invite Department of Finance officials to explain how the Government of Canada arrives at its revenue and expenditure projections.

Debate arose thereon.

Bernard Généreux moved, — That the motion be amended by adding after the word “projections” the following:

“and private-sector economists surveyed by the Department of Finance whose views form the basis of the Department's fiscal forecasts; and

the first hour should be devoted to hearing from private sector economists alone; and

the second hour should be devoted to both the Parliamentary Budget Officer and the officials from the Department of Finance”.

After debate, the question was put on the amendment of Bernard Généreux and it was agreed to.

After debate, the question was put on the motion and it was agreed to.

The motion, as amended, read as follows:

That the Committee invite the Parliamentary Budget Officer to explain how his office arrives at its revenue and expenditure projections; and

that the committee also invite Department of Finance officials to explain how the Government of Canada arrives at its revenue and expenditure projections and economists from the private sector; and private-sector economists surveyed by the Department of Finance whose views form the basis of the Department's fiscal forecasts;

That the first hour should be devoted to hearing from private sector economists alone; and

That the second hour should be devoted to both the Parliamentary Budget Officer and the officials from the Department of Finance.

At 5:14 p.m., the Committee adjourned to the call of the Chair.