This week, the Standing Committee on Finance examined income inequality and Bill C-48.
On April 16th, the committee heard testimony from representatives of Canada 2020, C.D. Howe Institute, Frasier Institute, First Nations Tax Commission, TD Bank Financial Group, Canadian Taxpayers Federation, Centres for Tax and Budget Policy and Studies in Economic Prosperity, and Montreal Economic Institute regarding income inequality. Some testimony indicated that education is of particular importance, while other testimony indicated that many studies overstate the severity of inequality based on variables utilized.
Murray Rankin’s motion for minister of revenue and officials to come before committee to explain upcoming budget’s effects on CRA attempting to target tax evasion was defeated.
On April 18th, FINA Meeting 114 was held in-camera regarding Bill C-48.