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House Hansard - 154

44th Parl. 1st Sess.
February 6, 2023 11:00AM
Context: House Hansard - 154 - Feb/6/23
Mr. Tom Kmiec
  • Feb/6/23 12:43:33 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, the member talked about how businesses differed 100 years ago. Although he is correct on that point, more broadly we have itemized the list on this legislation. The member for South Shore—St. Margarets itemized a few concerns he has with this particular piece of legislation, including things such as automatic reviews of proposed acquisition of company's assets, plants, mines, land, IP and data for the state-owned company involved. Also, what happens if it purchases it, and then breaks up the company to parcel out different components of it. There needs to be that secondary step being taken. This legislation is on the right path, but it is the details that really matter when reviewing investments that come from overseas, especially when they are from state-owned companies. It may not be in the interest of Canada for a foreign company to come in and purchase one of ours. Even though it may be good for shareholders, at the end of the day, we agree that the national security interests of Canada should predominate when state-owned companies are involved.
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