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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 1:28:09 p.m.
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  • Re: Bill C-34 
Madam Speaker, I would like to ask the member for Nepean about state-owned enterprises from not-so-democratic countries, or hostile countries. It was recommendation number one of the industry committee's report from the last Parliament on this issue that the threshold for consideration as a national security or net benefit test under this act be reduced from the $415 million to zero dollars, so that every transaction in every type of industry by a state-owned enterprise from a nondemocratic country would be reviewed. That is not in this bill. Would the hon. member support it being amended that way?
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Mr. Chandra Arya
  • Feb/3/23 1:28:56 p.m.
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  • Re: Bill C-34 
Madam Speaker, investment by state-owned enterprises from non-friendly countries obviously needs to be looked very deeply into. I am not sure whether we should have a minimum threshold, but as I said, every single investment by state-owned enterprises needs to be looked into. At the same time, in addition to state-owned enterprises, I also want to highlight investment by global multinational companies in the steel and aluminum sector, as I mentioned, that have made direct investment. One hundred percent of the sector is foreign owned, which is leading to Canadian companies becoming the branch offices of these multinational companies and is curtailing the potential to grow Canadian exports around the world.
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Mr. Gabriel Ste-Marie (Joliette, BQ)
  • Feb/3/23 1:29:53 p.m.
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  • Re: Bill C-34 
Madam Speaker, we in the Bloc Québécois are still reeling from the sale of Rona to the American company Lowe's and all the negative consequences that followed. In my hon. colleague's opinion, if Bill C-34 passes as is, will the interests of our economy be better protected with respect to potential transactions?
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Mr. Chandra Arya
  • Feb/3/23 1:30:20 p.m.
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  • Re: Bill C-34 
Madam Speaker, everything that affects Canada's competitiveness, growth, economic security or national security needs to be looked into. Let me be very clear. I am for foreign direct investment. I am for free trade. However, all aspects that affect our national security and economic security need to be looked into.
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The Assistant Deputy Speaker (Mrs. Carol Hughes)
  • Feb/3/23 1:31:22 p.m.
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If a member of a recognized party present in the House wishes that the motion be carried or carried on division or wishes to request a recorded division, I would invite them to rise and indicate it to the Chair.
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The Assistant Deputy Speaker (Mrs. Carol Hughes)
  • Feb/3/23 1:31:22 p.m.
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There being no motions at report stage, the House will now proceed, without debate, to the putting of the question on the motion to concur in the bill at report stage.
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Ms. Elizabeth May (Saanich—Gulf Islands, GP)
moved that the bill be concurred in.
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Mr. Jeremy Patzer
  • Feb/3/23 1:32:08 p.m.
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Madam Speaker, I request a recorded division.
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The Assistant Deputy Speaker (Mrs. Carol Hughes)
Pursuant to order made on Thursday, June 23, 2022, the division stands deferred until Wednesday, February 8, at the expiry of the time provided for Oral Questions. It being 1:32 p.m., the House stands adjourned until next Monday at 11 a.m. pursuant to Standing Order 24(1). (The House adjourned at 1:32 p.m.)
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