44th Parl. 1st Sess.
November 9, 2023 10:00AM
Madam Speaker, I sit on the industry committee with the hon. member, and I appreciate his intervention. We will always talk about the Investment Canada Act and how foreign companies are investing into Canada and creating good-paying, middle-class jobs for Canadians from coast to coast to coast. That is what I am doing in my speech this morning.
Tools such as the Investment Canada Act must also be modernized to offer additional protections in light of changing geopolitical and technological advancements and to prevent hostile actors from exploiting Canada's expertise and capacity for innovation. We must all be aware of geopolitical risks, and that they and instability are now fixtures in our operating environment, especially for businesses. Hostile state and non-state actors pursue deliberate strategies to acquire goods, technologies and intellectual property. They do so in ways that are fundamentally incompatible with Canada's interests and principles. We also know that foreign investments can be used as a conduit for foreign influence activities that seek to weaken our norms, values and institutions.
Members will recall that the Investment Canada Act played an important role in Canada's response to the Russian invasion of Ukraine. As early as March 2022, we issued a policy statement saying that any investment, controls or influence by the Russian State will also support a determination by the minister that there are reasonable grounds to believe that such an investment could be injurious to Canada's national security, regardless of its value. The statement sends a clear message about our commitment to protecting Canada's economic security from unwanted investment. Moreover, Canada's Indo-Pacific strategy is clear that the region will play a critical role in Canada's future over the next half-century. The significant opportunities for economic growth in the region are also accompanied by challenges related to the objectives of certain world powers that do not share our democratic and liberal principles.
We must respond to this reality in a number of ways, including in the way foreign investment is assessed and examined. In short, the Investment Canada Act plays a key role in protecting Canada's economic interests from hostile foreign actors. It is broad in scope and allows Canada to respond to changing threats that may arise from foreign investment, while protecting Canada's openness to beneficial international investment.
Again, I would like to say that this morning, the OECD stated its numbers for foreign direct investment in Canada, which OSFI operates through the Investment Canada Act to a large degree. Canada, for the first half of this year, came in third place behind the United States and Brazil. That is all the OECD rankings of over 30 countries. We are on the right path of continuing to grow the economy, attracting foreign investment from all over the world, along with our domestic companies investing. The act is broad in scope and allows Canada to respond to changing threats that may arise from foreign investment, while protecting Canada's openness to beneficial international investment.
The package of amendments proposed in this bill is designed to assure businesses and investors that Canada has a clear, predictable and stable regulatory regime. The nexus between technology and national security is clear and is here to stay. Rapid technological innovation has provided Canada with new opportunities for economic growth, but it has also given rise to new and difficult policy challenges.
More and more, Canada is being targeted by hostile actors. That threatens both our national security and our prosperity. Our government must therefore adapt our tools to more effectively defend us against current and future threats.
All around the world, foreign investments are now coming under much closer scrutiny from a national security standpoint, also considering various factors such as the impact of the COVID-19 pandemic, the repercussions of climate change on security, global supply chain disruptions and changing geopolitical considerations.
We are equipping ourselves today to face the threats of tomorrow. Canada will remain a destination of choice for foreign investment.
Now, more than ever, we need to make sure we are doing everything we can to foster an innovative, healthy and growing economy. The guidance and decisions issued over the past several years make clear that some transactions, particularly those by state-owned or state-influenced investors, may be motivated by non-commercial interests and imperatives that could harm Canada's national security.
I will repeat that these types of investments in sectors deemed sensitive currently face enhanced scrutiny under the Investment Canada Act. Our government believes that an effective review regime must be robust, transparent and flexible to adapt to a changing world and now is the time to make these changes. I believe the last changes were made in 2009. That is why we stand today to vote in favour of this bill, which represents the most significant amendments to the ICA since 2009.
We are making important moves now to review and modernize key aspects of the act while ensuring that the overreaching framework to support foreign investment to grow our economy remains strong, open and, I would add, flexible. Our record as a government makes it abundantly clear that where national security is concerned, we will not shy away from decisive action. Our assessment of risk keeps pace with evolving economic and geopolitical circumstances.
The ICA already gives us much of the authority we need to intercede and address national security risks that can arise from foreign investments. These amendments build on a strong foundation and will improve the mechanics around national security review of investment. Now is the time to act decisively so that we can make sure that Canada will continue to gain the economic benefits of investment while strengthening our ability to address threats to our country and ensure its future prosperity.
We recognize that Bill C-34 has undergone a rigorous, robust study spanning across 11 meetings. I applaud the members of the industry committee on this process. During those meetings, we heard from a variety of legal and subject-matter experts, who testified about the benefits that foreign direct investment has on Canadian businesses, the importance of protecting Canada's intellectual property and the need to ensure a regime that is capable of tackling the emerging national security challenges that Canada and our security partners are facing in the liberal democracies of the world.
We have engaged meaningfully with opposition members to discuss their perspectives and concerns and have worked collaboratively to bring new amendments that will further strengthen the bill. We have worked together to ensure that Canada's foreign investment regime continues to be the gold standard.
Bill C-34 will provide us with better tools to protect our national security. It will also help to bring Canada into greater alignment with our international partners and allies. My colleagues heard from witnesses at INDU about how important it is for Canada to have a regime comparable to its allies. Having a comparable regime helps to address common threats and maximize our collective effectiveness.
We all know that the amendments proposed in Bill C‑34 will contribute to that important balance. We have to protect Canadians and Canadian businesses while ensuring that investors continue to see Canada as a destination of choice.
Yes, Canada is the first destination of choice for foreign investment.
We know that Canada and our allies share similar national and economic security concerns. Our allies are concerned with threat actors operating in multiple jurisdictions to secure a monopoly in critical access in technology. We see that with critical minerals. It is becoming increasingly more important to share information with allies to support national security assessments to prevent these threats from happening.
This new information-sharing authority strengthens co-operation between Canada and other like-minded countries to defend against an investor that may be active in several jurisdictions seeking the same technology, for example, and having motives ill toward. That said, Canada would not be obligated to share such information where there are confidentiality or other concerns.
I want to thank my esteemed colleagues for their attention today. I can assure members that our approach is pragmatic, principled and collaborative. It provides a solid framework to address evolving geopolitical threats while allowing Canada's review regime to be more aligned with our international allies and in the interests of Canadians. The collaborative efforts during the INDU committee ensure that we meet these goals, which is why I believe that this bill, as amended, should be adopted and referred to the Senate.
We are confident that with Bill C-34, Canada will continue to encourage positive investment that will grow our economy and create good jobs in all ridings across Canada. I do not think there is a riding in Canada that does not have some form of foreign direct investment in it or that is not affected by foreign direct investment. It should always be done in a positive, long-term and sustainable manner without having to compromise on national security. We know that in today's world there are actors, foreign-state actors and non-state actors, who have ill intentions towards the liberal democracies of the world, including our blessed home here in Canada, and so we need the best of both worlds.
I hope all of us can work together to stand for Bill C-34 to get it to the Senate for further study and make this bill law to strengthen Canada's economic and national security.
It has been a pleasure to speak to this bill this morning. It was great to see the OECD comment with respect to Canada's reputation for foreign direct investment and coming into third place for the first half of the year. We have seen flows in foreign direct investment via countries across the world, with Canada being increasingly the destination of choice. There are the Volkswagen investment and the Stellantis investment, as well as Honda, Toyota and other entities. There are investments in Kingston, investments in Northvolt in Quebec and investments in B.C. that are happening. Across the board, we see foreign companies choosing Canada to invest their dollars for their shareholders to create wealth here in Canada. It is something that is great to see. We need to encourage it from all sides of the House.
I thank hon. members for their attention this morning. I look forward to hearing their questions and comments.
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Madam Speaker, in general, Conservatives like elements in Bill C-34. However, we believe that the bill does not go far enough.
In the spirit of collaboration, Conservatives put forth 14 amendments and only four were agreed to by our colleagues across the way. It is funny, because the Liberals always say not to worry, that they will work collaboratively across the aisle in committee and will get things done.
There is one thing this bill does not do. It took away the requirement for cabinet oversight in determining whether an investment is a threat to Canada's national security. It gives sole responsibility to the Minister of Industry and the Minister of Public Safety.
Why does the government always preach collaboration, but in the spirit of fairness, did not work with Conservatives and other opposition parties to agree to the other 10 of the 14 amendments?
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Madam Speaker, Cariboo—Prince George is a beautiful part of British Columbia in our blessed nation.
It was great to see that in total, eight amendments were adopted during the committee study of the bill, with four of them being from the official opposition. That is something we can all applaud with respect to where there was collaboration.
In terms of how far the bill goes and does not go, I do want to put on the record this morning that independent of where the investment is coming from, whether it is from Russia, China or any other state actor or non-state actor, all investments will be reviewed if they need to be. In terms of the minister, there will be more added flexibility because the minister would take a look at it rather than it being a Governor in Council decision. That also would provide flexibility.
There are a number of improvements in this bill. It is a vast update from the 2009 iteration. It is great to see that this has happened. I would say, in my humble view, to the member for Cariboo—Prince George that there was a lot of collaboration. I see that now, sitting on the industry committee with my colleagues from all parties, and it is great to see that we continue to go forward in the same manner on other pieces of legislation.
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Uqaqtittiji, I wonder if the member can speak to the importance of the NDP amendment to clause 8, which would allow for the review of foreign investments or takeovers to consider intellectual property and remedies to retain benefits in Canada.
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Madam Speaker, I appreciate that very pertinent and direct question.
I believe that amendment was adopted and it has relevance to what the hon. member was referring to in order to ensure that we examine any effects of any rights related to intellectual property where their development was funded by the Government of Canada. I believe that is one of the tangents that the hon. member is asking for.
Intellectual property in itself is something very important in today's world. Intellectual property, in terms of patents being put in place in different jurisdictions, has different effects. We know that intellectual property is something that we always need to examine. It is changing rapidly, and we need to have a regime in place here. One process is with the Investment Canada Act which directly examines this, because it is very important for our national and economic security.
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Madam Speaker, my colleague spoke to the importance of working together with our security partners and our allies. Certainly, over the past eight years, we have watched that relationship crumble to some degree with a lack of interest of even including us in conversations. I am a little confused as to why the government did not respond to our recommendation to provide exemptions to the Five Eyes intelligence state-owned enterprises. They are our allies, people whom we could potentially have a good relationship with and trust each other.
The Conservatives proposed an exemption to prevent an overly broad review process. It was rejected by the government. Rather than focusing on real and serious threats to safety, the government would seem to rather utilize its time and resources on scrutinizing our most trusted security partners.
What is the rationale for not moving forward with that recommendation?
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Madam Speaker, in terms of Canada's relationship with our Five Eyes partners or groups, we have a very robust relationship. It is a very strong relationship. It is a relationship that has existed for many years, and I would say decades. It is a relationship where day to day, people working for the Government of Canada, our security and defence apparatus, are in contact with their pertinent peers. It is something that all governments need to value and respect. We know that. Canada is at the table on a multilateral basis in many organizations throughout the world.
In terms of the question that the hon. member had about a review of investments, when we examine foreign direct investments we must have the mindset where we do not put in place exemptions. We obviously understand who our allies are in the liberal democracies of the world, whether it be the United States, Australia, the U.K., or other countries, but putting in place exemptions, I personally feel, is not the right way to pursue the legislative process in the Investment Canada Act. It must be broad enough to handle certain unique situations, but it must be focused in a place so that if investments are coming from state and non-state actors, the process is robust, with the capacity to review them for national security and economic considerations.
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Madam Speaker, I found the member's speech very optimistic. He said that he sees foreign investment in Canada as a good thing. I agree with him. Everyone wants foreign investment. We are always happy when people want to invest money here. That means our country is an attractive place and there will be job creation and economic spinoffs and so on. I have nothing against that.
There is just one small problem. We need to know what the investment is. We need to be able to look at it, at least. From 2021 to 2022, only 2% of the 1,255 proposed investments were reviewed. I see that as a bit of a problem.
I feel that, sometimes, these investments are serving interests that may not align with ours. We should at least have a way to review these proposals to determine whether they are in our interest or not. Does my colleague not feel his government is a bit too naively optimistic about this?
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Madam Speaker, I would like to thank my colleague for his very important question. Foreign investment is vital to our economy, our national security and our future. We are talking about the future of our constituents.
When we examine foreign direct investment in Canada, it is very important that this modernized bill, Bill C-34, come through. The last time the ICA was reviewed was in 2009. The economic world and the technological world have changed greatly since 2009. We need this bill to move forward.
The collaboration that was seen at the industry committee was very important. It was great to see. We continue to move forward on this bill, which is in the interests of all Canadians and our economic future.
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Madam Speaker, I listened intently to the hon. member's speech and his answers to questions. What I did not hear from him was an explanation about why he and his colleagues voted against the amendment at committee that would have sent every acquisition by a company headquartered in a hostile state like China or Russia to an automatic national security review. That was a legitimate national security power that we wanted to give the minister, yet the Liberals refused it.
Can the member tell us, please, why his party continues to be soft on China and Russia?
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Madam Speaker, we are not soft on Russia in any manner. Investments that come from China, Russia or any other state or non-state actors are all reviewed very judiciously and diligently by the folks covered under the Investment Canada Act, and they will continue to do so. We need to ensure that the intentions of people investing in Canada are in our national security interest and that they will help their shareholders in their creation of wealth and so forth.
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Madam Speaker, I am pleased to have an opportunity to speak to a bill that Conservatives believe is critical to the safety and security of Canadians.
At face value, Bill C-34 would amend the Investment Canada Act with the intent to bolster Canada’s foreign investment review process and increase penalties for certain instances of malpractice or contraventions of the act. Canadians could consider this bill an attempt by the Liberals to take threats posed by some cases of foreign investment seriously. However, we live in an increasingly volatile world and, as we have seen over these past few months, Canada is not immune to infiltration and manipulation from abroad.
In the past, Liberals have failed to thoroughly review transactions involving Chinese state-owned enterprises. This pattern is repeating itself through Bill C-34. Namely, clause 15 would remove the obligation for any foreign investment to be subject to a mandatory consultation with cabinet.
On this side of the floor, we believe that Canada’s economic and security interests are paramount and this bill would not go far enough to protect them. That is why we put forward 14 very reasonable amendments at committee that would have intensified the review process of business acquisitions from foreign state-owned entities. Unfortunately, the Liberals and the NDP rejected all but four of them. They are nonetheless critical to improving the bill, so I will touch on each of them.
First, the government was prepared to pass a bill that would have given carte blanche access to investment from state-owned enterprises, no matter their relationship with Canada. There were no provisions that would require any investment by a state-owned enterprise to be subject to an automatic national security review when the government introduced this bill. Our amendment reduced the threshold to trigger a review from $512 million to zero dollars, meaning that all state-owned enterprise investments in Canada must undergo a national security review.
Second, Conservatives introduced an amendment which would ensure that the acquisition of any assets by a state-owned enterprise would be subject to review under the national security review process. It would guarantee that not only new business establishments, acquisitions and share purchases would be considered under the review but also that all assets are included in this process, which is another very good amendment to the bill.
Third, when the government introduced the bill, it failed to address concerns regarding companies that have previously been convicted of corruption charges. This makes no sense to me at all. The Conservative amendment now, fortunately, would require an automatic national security review to be conducted whenever a company with a past conviction is involved.
Finally, the government would have been happy to pass a bill that gives more authority and discretion to the minister, despite multiple blunders over the past eight years to take seriously the real threats posed by some foreign investments. The original bill would have left it to the minister to decide whether to trigger a national security review when the threshold was met. The Conservative amendment addresses this oversight and would make a review mandatory, rather than optional, when the $1.9-billion threshold is met.
I do not understand why the government would not have automatically included this in the bill. It concerns me that so many pieces of legislation from the government are giving more and more authority to individual ministers and not to those beyond them to make sure that, within cabinet and the oversight of the House, those things are truly transparent and that sober thought has been applied.
These amendments, the four that I mentioned, are crucial elements to strengthening this bill, but the Liberal-NDP government also denied Canadians further protections by rejecting some other key improvements that Conservatives really do feel should have been there.
Witnesses at the committee stressed that many Chinese enterprises operating internationally are indentured to requests from the CCP, even if they are privately owned. That almost seems like an oxymoron, does it not? Instead of taking sensitive transactions seriously, the Liberals and the NDP rejected our amendment to modify the definition of a state-owned enterprise to include companies headquartered in an authoritarian state, such as China.
In addition, the coalition chose to not provide exemptions to Five Eyes intelligence state-owned enterprises. Conservatives proposed an exemption to prevent an overly broad review process, which the Liberals and NDP rejected. Rather than focusing on real and serious threats to safety, the government would rather utilize its time and resources on scrutinizing our most trusted security partners.
This makes no sense. Clearly, the government has struggled to get things done in a timely manner, and this would have been an opportunity for it to be far more efficient and to also show an improving relationship with our Five Eyes partners and allies.
Lastly, rather than supporting our amendment to create a list of sectors considered strategic to national security, the Liberals and the NDP chose to leave the process up to regulation and put it at risk of becoming a political exercise, which Canadians are very concerned about when it comes to the government, where stakeholders may invoke national security concerns to protect their own economic interests. Clearly the government has failed over and over again to show it is truly operating in the best interests of Canadians.
I am glad to say that the amendments we were able to pass turned a minor process bill into a major shift in our nation’s approach to foreign takeovers of Canadian companies, but there is still more that could be done to improve it. As it currently written, the bill would give the Minister of Industry and the Minister of Public Safety near sole authority to bypass cabinet and approve projects coming into Canada.
Given past precedent, Conservatives have been sounding the alarm for years on why this would be a critical mistake. I am reminded of when the former minister neglected to conduct a full national security review of partially China-owned Hytera Communications’ purchase of B.C.’s Norsat International in 2017.
Twenty-one counts of espionage later, the United States Federal Communications Commission blacklisted Hytera in 2021 due to “an unacceptable risk to the national security of the United States”. However, it was not until 2022 that the then minister was left scrambling when the RCMP suspended its contract with Norsat for radio frequency equipment.
Shockingly, Public Services and Procurement Canada confirmed that security concerns were not taken into consideration during the bidding process for the equipment. This, of course, raises alarms. The Liberals also failed to consult Canada’s own Communications Security Establishment on the contract. Instead, the contract was merely awarded to the lowest bidder. This is also interesting because, quite often, it seems we are hearing of funds being shared by the government with organizations that simply do not do anything for Canadians with the money they are given.
Why was this allowed to happen? Why was a piece of technology meant to ensure secure communications within Canada’s national police force contracted out to a company accused of compromising national security around the world, as well as serving as a major supplier to China’s Ministry of Public Security?
Let us go back to 2020, when the government was prepared to award Nuctech with a $6.8-million deal to provide Canada’s embassies and consulates with X-ray equipment. Nuctech is, again, Chinese-based and founded by the son of a former secretary general of the CCP.
Deloitte Canada reviewed the offer and made a staggering recommendation to the government that it should only install security equipment in Canadian embassies if it originates from companies with national security clearances. Deloitte found that Nuctech’s hardware and software had advanced beyond the government’s existing security requirements to the point that its X-ray machines are capable of gathering information and accessing information networks. This raises huge alarm bells.
Global Affairs Canada did not review Nuctech for risks to national security during its procurement process, nor was the Canadian Centre for Cyber Security asked to conduct its own review. The government often says it will do better and can do better, but these things are happening over and over again. However, all this might have been too little too late, as the government has awarded four additional CBSA contracts to Nuctech since 2017. The government’s laissez-faire attitude to national security is simply beyond comprehension.
It does not end there. The government also cannot be trusted to safeguard the security of Canadians because it cannot even follow its own rules. In March of 2021, the minister updated guidelines for national security reviews for transactions involving state-owned enterprises and Canada’s critical minerals. Less than a year later, the same minister violated his own rules by expediting the takeover of the Canadian Neo Lithium Corporation by Chinese state-owned Zijin Mining. Once again, this was done without a national security review.
To make matters worse, the minister defended his decision by refusing to order them to divest from Neo Lithium while ordering three other Chinese companies to divest their ownership of three other critical minerals firms. It is confusing to me that the government would be so inconsistent. The hypocrisy is astounding. The government is once again picking winners and losers, and it is disconcerting who they are choosing to be winners. This time, national security is on the table. This cannot be allowed to continue.
We have seen a pattern of missteps by the government on how programs and projects are approved. Over the last eight years, there has been an unacceptable shift toward putting more power within the hands of ministers and outside advisory councils, with little to no accountability to this place. We certainly see that, and Canadians see it, too. There is less and less of a sense of responsibility in this place to Canadians. It is as though the government can simply go ahead and provide its ministers with legislation that gives them a carte blanche ability to do things, along with organizations and advisory councils that are outside of this place and do not have the proper oversight that the House of Commons, which reflects Canadians, certainly should have.
Often, we find that appointed advisory councils are established at the minister’s discretion prior to a bill even being signed into law. That just shows the incredible lack of respect of the Liberal government to due process in this place.
Other times, we see that the Liberals just cannot seem to pick a lane. With Bill C-27, for instance, the Privacy Commissioner’s new powers to investigate contraventions of the Consumer Privacy Protection Act were diminished by a personal information and data tribunal. In this tribunal, only three of its six members were required to have experience in information and privacy law—
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- Nov/9/23 11:22:03 a.m.
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I have to interrupt the hon. member for a point of order, and I believe it is about the noise in the lobby. The Sergeant-at-Arms will address the issue.
The hon. member for Yorkton—Melville has the floor.
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Madam Speaker, I thank my colleague for making note of that, which I appreciate.
In effect, the tribunal was equipped with power equivalent to a superior court of record, which could overrule any opinion of the Privacy Commissioner.
With today's bill, we see the government choosing the path of consolidated power in the hands of two ministers. The Conservative Party will continue to push for the deletion of clause 15 to ensure that cabinet decision-making is central to the investment review process, and not a ministerial power grab. Perhaps we are looking for assistance from the Senate on that.
Cabinet decision-making is at the heart of executive power of our system of government. We want to ensure that no single minister can make the same mistakes that we have seen repeated here time and again. Canadians are depending on us to push for these things to take place. They are sensing less and less of an influence and control, as the democratic individuals in our country vote for the people who sit in this place, including ministers. Therefore, it is really important that we continue to push the government to include the whole process, especially including as well that cabinet intervention.
The Liberals missed their chance to broaden the scope of Bill C-34 so that it would be applicable to changing geopolitical realities. It was a chance to ensure that Canadians and Canadian interests would have a dominant say in what would get built and what would get purchased in our country, how our resources would be managed and, above all, ensure they would be protected from complex and risky foreign interests.
Within my own province of Saskatchewan, there is a great deal of concern about the movement into our country, even in regard to purchasing of our land. Canadians are concerned about all of it, but if there is one thing Canadians are very concerned about, it is that our land belongs to Canadians and that our agricultural, industry and others are not taken over by foreign entities.
I asked the government earlier in the debate on this bill why Canadians should allow the minister to strip away any sense of accountability to cabinet or the House and empower himself in such a way. It is not in the best interests of Canadians. It is not in the best interests of any minister who is concerned about ensuring that he or she doing what is absolutely best for Canadians by limiting it to his or her own office and to the bureaucracy, rather than taking into account the voices across the House and within cabinet that represent Canadians.
When we form government, Canadians will breathe a sigh of relief on so many levels. They can rest assured that we will always take a thorough look at the long-term implications of foreign investment with respect to how they would affect our constituents, our economy in the long term and our reputation as a safe and reliable destination for international investment and for the investment of Canadians.
As I have a few minutes, serving on the Standing Committee on Veterans Affairs, I want to take advantage of this opportunity to speak on behalf of my communities and my constituents, indeed, all Canadians, and thank our veterans and our serving members as well our reservists, who are potentially facing deployment in the near future. Everyone who serves our country and is deployed or working within the system of National Defence deserves our greatest respect and support. I encourage everyone to please ensure they go out to the Remembrance Day services. I know many have taken place this week. Unfortunately, being here, I have not been able to participate at home. However, we need to ensure that we go out, in large numbers, and support our veterans.
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Madam Speaker, the member has put some interesting comments on the record.
For the member and anyone who might be following the debate, let us look at what the member just said and contrast that. Stephen Harper went to China and came back with the investment protection agreement for China and Canada. Let us contrast everything the former prime minister did behind closed doors, in a secretive way, in coming up with an agreement that was enforceable by law. Let us then look at what Bill C-34 would do as a modernization from 2009. What members would find is that, through technology and other advancements like AI, it would make a huge difference. It is one of the reasons we have Bill C-34 today.
Would the member not recognize that the investment protection agreement, and the manner in which it was done under Stephen Harper, contradicts virtually everything the member said in her speech?
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Madam Speaker, the answer to that is what the previous speaker said. The world has changed incredibly. China is not what China was at that point in time. The reality is that this—
Some hon. members: Oh, oh!
Mrs. Cathay Wagantall: Would the member like to hear my answer?
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- Nov/9/23 11:28:25 a.m.
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Can we let the hon. member for Yorkton—Melville answer the question that was asked without heckling?
The hon. member for Yorkton—Melville.
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Madam Speaker, truly, the world has changed, and China is on a significantly different path. The member who spoke previous to me from his side of the floor made it really clear, that we have a lot of circumstances taking place in the world. My perspective, and that of many Canadians, is that the government is far from impacting the influence of China in our country. It is lagging. It is not doing what it should be doing and that is putting our country's national protection at risk.
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Madam Speaker, my thoughts go out to the Groupe TVA employees and their families following last week's catastrophic loss of 547 jobs. This is a heavy loss for my region, where 24 out of 30 jobs were wiped out. Obviously, we have high hopes that the federal government will be there to support these people. As we proposed yesterday, the Bloc Québécois is calling for a summit as well as a $50‑million emergency fund to support our local media, which are a vital part of our democracy and our communities.
Returning to today's topic and the debate on Bill C-34, I listened carefully to my colleague's speech and one thing jumped out at me. The government tabled this bill so that it could be passed as quickly as possible. However, the Conservatives, who typically advocate for the economy, moved a motion calling for all foreign state-owned companies not belonging to the Five Eyes countries to be excluded from the application of the act, an attempt to slow down foreign investment.
Since 40% of European investment in Canada takes place in Quebec, I want to give the example of Airbus, a French and German state-owned company that, as everyone knows, manufactures airplanes in Mirabel. If the Conservative Party's motion had been adopted in committee, it would have seriously hurt direct foreign investment in Quebec.
I would therefore like my colleague to tell me how she thinks she can block all proposed foreign investments from any country other than the Five Eyes. It is possible to have alliances with democratic states that we can trust.
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Madam Speaker, in reference to the first part of the member's intervention, in which he talks about the loss of jobs in Canada, our economy is suffering on all levels and it is due, in a large part, to what was happening before even COVID took place.
Investment in Canada was running in the other direction because of the lack of confidence in the government and the over-involvement in extending the time it would take to invest in our country. We have seen that on every level. We have also seen the intervention and interference in freedom of speech and the ability to communicate.
There are all kinds of things impacting our ability as a nation to prosper which the government has had a hand. I am very encouraged with the fact that, in due course, this will all change.
142 words
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
