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Decentralized Democracy

House Hansard - 153

44th Parl. 1st Sess.
February 3, 2023 10:00AM
Context: House Hansard - 153 - Feb/3/23
Mr. Rick Perkins (South Shore—St. Margarets, CPC)
  • Feb/3/23 1:09:11 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, I appreciated the speech by my colleague from Windsor West, who I enjoy working with on the industry committee, and the former chair who did marvellous work on it. It is a great report. My personal favourite is recommendation number one, which is that the state-owned enterprises be reduced to zero for review. The Investment Canada Act focuses on the acquisition of companies. However, it does not focus at all on the acquisition of individual assets. These would be things like a mine sold by a company to a foreign interest; or a technology sold, without the company being sold, to an interest that may not be in Canada's best security interest or net benefit interest. I do not recall hearing about this. Could the member comment on that?
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Context: House Hansard - 153 - Feb/3/23
Mr. Tako Van Popta (Langley—Aldergrove, CPC)
  • Feb/3/23 1:15:18 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, I just wanted to follow up on the question from my colleague from South Shore—St. Margarets about individual assets ending up in the hands of foreign state-owned enterprises. I am thinking particularly of state-owned enterprises from nondemocratic nations, as the member for Windsor West mentioned. When we fund research chairs at Canada's research universities, at the end of the process, we end up owning an asset born of Canadian ingenuity. This does not go to national security necessarily, but it certainly goes to the strength of our economy.
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Context: House Hansard - 153 - Feb/3/23
Mr. Chandra Arya
  • Feb/3/23 1:27:22 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, in addition to the economic security issues I discussed, my colleagues brought forward others earlier in debate, like the purchase of intangible assets other than the company itself, and some issues that were brought forward by the member from Windsor on the lack of competition resulting in foreign direct investments. These are the kinds of things that need to be considered now. We know this act has not been looked at in, I think, the last 13 years. This is the first opportunity we have and we need to use this opportunity to consider all aspects that are directly related.
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