Ouawa Room 549D, Centre Block Ottawa, Ontario KIA 0A6 Tel: 613-993-6654 Fax : 613-993-9007 House oF Covatons ‘Cuan nes cowie QSmnnthers 3801 Ist Avenue, Suite 100 Smithers (British Columbia) VO} 2NO ‘Tek: 250-877-4140 Fax: 250-877-4141 ity Comace Brince Repet 70 Lave ere Sut 104 : es Tan arene Wet ‘Terrace, Britsh Columba V8G 172 Nathan Cullen aise lspenelieh Columbo) Vif TAK Te atsan9 mabe greatness ‘250-4022 2413 Foe 256155344 sera baby aly Fo 25060787 Finance Cl for laa Copan July 28, 2015 Mr, dames Rajotte Chair of the Standing Committee on Finance Member of Pariament for Edmonton-Ledue 4280 La Promenade Building Ottawa, ON K1A 086 Dear James, 11am witing regarding an urgent matter, As you are surely aware, the Parliamentary Budget Officer reconty roloasod revised budgetary projections, based on macroeconomic forecasts from the Bank of Canada, showing that the government will tun a $1 billion deficit inthe 2015-16 fiscal year. This isa significant deviation from the Budget 2018 estimate ofa $1.4 billion surplus. In addition to the projected deficit, Canada’s economy has shrunk for four consecutive months, and there are 200,000 more unemployed Canadians than betore the last recession. | believe its important for Parliamentarians to examine the impacts ofthis dramatic shift in government finances and the weakening Canadian economy. | would Ike to request thal the Standing Committee on Finance be reconvened {immaciately in order to hear from witnesses including the Parliamentary Budget Officer, the Bank of Canada and officials from Finance Canada on these matters. In particular, itis my bolo that it would be appropriate for the Minister of Finance to appear before the committe “to ‘explain the reasons for the projected deficit and present a plan for a return to balanced budgets" as euggested by the recently passed Balanced Budget Act. ‘My NDP colleagues and | have also written tothe Clerk of the Committe to convene a meeting pursuant to Standing Order 106(4). | look forward to your response. Sincorely, x CM Nathan Cullon MP for Skeona—Bulkloy Valloy and Finance Critic forthe Official Opposition nathan.cullen@parl.ge.ca www.nathancullen.com