Hon. Pamela Wallin moved:

That the fifth report of the Standing Senate Committee on Banking, Commerce and the Economy, tabled in the Senate on Wednesday, February 15, 2023, be adopted and that, pursuant to rule 12-24(1), the Senate request a complete and detailed response from the government, with the Minister of Finance being identified as minister responsible for responding to the report.

She said: Honourable senators, the tabling of this report was very timely because our country is going through a period of rapid inflation, with drastic rises in the cost of living, and our report shines a light on the series of decisions and circumstances that led us here and how we can do better to avoid this in the future. The testimony from various economists and from the Governor of the Bank of Canada himself has put into sharp relief that the state of our economy is troubling, and concerning what should be done in the future. We as a committee put in a great amount of time and work on this file, and therefore, that is why we hope the decision makers will take serious note and respond. Thank you.

Hon. Pamela Wallin, Chair of the Standing Senate Committee on Banking, Commerce and the Economy, presented the following report:

Tuesday, March 7, 2023

The Standing Senate Committee on Banking, Commerce and the Economy has the honour to present its

SIXTH REPORT

Your committee, to which was referred Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985, has, in obedience to the order of reference of December 14, 2022, examined the said bill and now reports the same without amendment but with certain observations, which are appended to this report.

Respectfully submitted,

PAMELA WALLIN

Chair

(For text of observations, see today’s Journals of the Senate, p. 1281.)