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Decentralized Democracy

House Hansard - 154

44th Parl. 1st Sess.
February 6, 2023 11:00AM
Context: House Hansard - 154 - Feb/6/23
Mr. Xavier Barsalou-Duval (Pierre-Boucher—Les Patriotes—Verchères, BQ)
  • Feb/6/23 12:13:43 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, I want to commend the speech given by the member opposite in support of Bill C‑34, which gives the Minister of Innovation, Science and Industry a little bit more power to review foreign investments. That in itself will be good for national security. However, I do not think we should limit ourselves to national security, but rather, I think other criteria should be added for reviewing an investment. On the subject of investment review, my colleague across the aisle used to be a cabinet minister in this government, and I remember one particular case at that time, the sale of Rona, that required a government review. Before authorizing the sale, the net benefit had to be reviewed. It was not a matter of national security, but the net benefit still had to be reviewed. We submitted an access to information request to find out the contents of that mysterious net benefit review. The response that came back was that there was no documentation that corresponded to our request. I cannot help but wonder whether this government's reviews really are all that rigorous, or are they done based on the weather forecast or a coin toss.
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Context: House Hansard - 154 - Feb/6/23
Mr. Rick Perkins (South Shore—St. Margarets, CPC)
  • Feb/6/23 1:56:39 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, I listened intently to the member for Kingston and the Islands' speech. In my opening speech on this I said that these micro-administrative changes are much needed, but they are likely not to do what is claimed. The government has had the opportunity, over the last eight years, in the existing act, to reject takeovers by Chinese state-owned enterprises of Canadian assets. These include the Tanco mine in Manitoba where the government actually said no to a national security review, and Hytera, which took over telecommunications businesses. The then minister of industry said no to a national security review. Can this member please tell me what in this bill will ensure that those types of acquisitions by state-owned enterprises are reviewed in the future?
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