This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
{
"time": "2007-01-30 11:45:00",
"attribution": {
"en": "Hon. Jim Flaherty",
"fr": ""
},
"content": {
"en": "<p data-HoCid=\"410093\" data-originallang=\"en\"> Yes, there were at least a couple of questions there. I'll try to be as efficient in my answer as I can.</p>\n<p data-HoCid=\"410094\" data-originallang=\"en\">First of all, with respect to why the government acted at the end of October, the reason was what happened in 2006, and several things happened. As chart A shows, there was a rapid acceleration of conversions to income trusts in the first 10 months of 2006, including the ones that were announced by TELUS and BCE. Secondly, the quantum had gone up dramatically, about $70 billion alone in the first 10 months of 2006. Thirdly, the nature of the income trusts--they were starting to invade active areas of the economy requiring investment and re-investment, the knowledge-based sectors of our economy--was very dangerous for the growth of our economy and our future prosperity. All of those things were new in 2006 and were not present in 2005, and that is why we felt, given that change of circumstances, to act was the best thing for Canadians.</p>\n<p data-HoCid=\"410095\" data-originallang=\"en\">Now, why will the transition period be four years and not 10 years?</p>",
"fr": "<p data-HoCid=\"410093\" data-originallang=\"en\">Oui, vous avez pos\u00e9 au moins quelques questions. Je vais essayer d'\u00eatre aussi efficace que possible dans ma r\u00e9ponse. </p>\n<p data-HoCid=\"410094\" data-originallang=\"en\">Pour commencer, si le gouvernement a agi \u00e0 la fin d'octobre, c'est en raison de ce qui s'est pass\u00e9 en 2006, parce qu'il s'est pass\u00e9 plusieurs choses. Comme le graphique A le montre bien, il y a eu acc\u00e9l\u00e9ration rapide des conversions en fiducies de revenu au cours des dix premiers mois de 2006, ce qui comprend les conversions annonc\u00e9es par TELUS et BCE. Ensuite, les montants ont augment\u00e9 radicalement, de 70 milliards de dollars seulement au cours des dix premiers mois de 2006. De plus, la nature des fiducies de revenu, qui commen\u00e7aient \u00e0 envahir certains secteurs actifs de l'\u00e9conomie n\u00e9cessitant de l'investissement et des r\u00e9investissements, soit les secteurs de notre \u00e9conomie ax\u00e9s sur le savoir, les rendait tr\u00e8s dangereuses pour la croissance de notre \u00e9conomie et notre prosp\u00e9rit\u00e9 future. Toutes ces choses \u00e9taient nouvelles en 2006, donc n'\u00e9taient pas l\u00e0 en 2005, et c'est pourquoi nous avons senti, compte tenu de ce changement de circonstances, que le mieux \u00e0 faire pour les Canadiens \u00e9tait de passer \u00e0 l'action. </p>\n<p data-HoCid=\"410095\" data-originallang=\"en\">Ensuite, pourquoi la p\u00e9riode de transition sera-t-elle de quatre ans plut\u00f4t que de dix?</p>"
},
"url": "/committees/finance/39-1/59/jim-flaherty-20/",
"politician_url": "/politicians/jim-flaherty/",
"politician_membership_url": "/politicians/memberships/413/",
"procedural": false,
"source_id": "1861181",
"document_url": "/committees/finance/39-1/59/",
"related": {
"document_speeches_url": "/speeches/?document=%2Fcommittees%2Ffinance%2F39-1%2F59%2F"
}
}