SoVote

Decentralized Democracy

Ontario Assembly

43rd Parl. 1st Sess.
March 8, 2023 09:00AM
  • Mar/8/23 9:20:00 a.m.
  • Re: Bill 71 

“Audi alteram partem”—hear the other side. It doesn’t sound like you were listening, because I said that we are going to be proposing amendments to this bill. This bill is at second reading; at committee, we are going to be proposing amendments, amendments that will improve this bill, amendments that will address the concerns of consultation with Indigenous First Nations, amendments that will ensure that the haphazard way in which you have gone forward with this bill doesn’t have implications for the environment and doesn’t have implications for the financial risk that’s faced not only by investors but the people and taxpayers of the province of Ontario.

But what you are failing to acknowledge is that a chunk of that time is about acquiring the financial resources that are needed to open up a mine. It costs a lot of money, and mining companies need not just their money; they need other people’s money—taxpayers and investors. What you’ve done now, instead of ensuring protection for investors, you’ve watered down the financial assurances that are required as part of just opening up and closure plans. So that is not helpful to this industry. It’s not helpful to attract investors in this industry.

What this industry needs to do is to have certainty, to have clear and transparent processes. I keep talking about investors. Investors are not going to put their money into an industry where they are just rolling the dice that the minister of the day is favourable to what they’re trying to do, because governments change, thank God, and ministers change—looking forward to it—and this is not helpful for the stability of the industry.

288 words
  • Hear!
  • Rabble!
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