Relevance; infringing on financial initiative of the Crown

<div class="DecisionMain" role="main"> <p class="decision-chapter">Amendments to the Content of Bills / Report Stage</p> <p class="d-DecisionDate"> <time>June 11, 1973</time> </p> <p class="e-Debates">Debates <a href="https://parl.canadiana.ca/view/oop.debates_HOC2901_05/49?r=0&amp;s=1">p. 4650</a></p> <div> <h2 class="f-ContextResoEdNotePostscriptTitle">Background</h2> </div> <p class="g-contextResoEdNotePostscript">During debate at the report stage on the motion in amendment of Mr. Woolliams (Calgary North.) relating to the interest rate prov1s1ons contained in Bill C-133, an Act to amend the National Housing Act, Mr. Gilbert (Broadview) proposed an amendment. The object of Mr. Gilbert's amendment was to reduce to one-quarter of one per cent, rather than one-half, the amount by which the CMHC lending rate might exceed the rate of return on Government of Canada bonds. Mr. Basford (Minister of State for Urban Affairs) objected that such a change would result in a charge on the public purse not covered by the Royal Recommendation.</p> <h2 class="f-ContextResoEdNotePostscriptTitle">Issue</h2> <p class="g-contextResoEdNotePostscript">Does the amendment to the motion in amendment infringe on the financial initiative of the Crown?</p> <h2 class="f-ContextResoEdNotePostscriptTitle">Decision</h2> <p class="g-contextResoEdNotePostscript">No, the amendment is in order.</p> <h2 class="f-ContextResoEdNotePostscriptTitle">Reasons given by the Deputy Speaker</h2> <p class="g-contextResoEdNotePostscript">The principle being considered is the spread between the cost of borrowing and lending, "and what is charged then becomes a detail". The Member for Calgary North is of the opinion that one-half of one percent is an appropriate figure. The Member for Broadview, on the other hand, believes that the spread should be only one-quarter of one percent. Such a difference is one of detail, not principle, and is in order.</p> <h2 class="f-ContextResoEdNotePostscriptTitle">References</h2> <p class="MsoNormal">Debates, June 11, 1973, <a href="https://parl.canadiana.ca/view/oop.debates_HOC2901_05/47">pp. 4648-50</a>.</p> </div>