44th Parl. 1st Sess.
April 28, 2023 10:00AM
- Apr/28/23 10:14:27 a.m.
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Madam Speaker, we know that the federal registry is not enough to fight money laundering because most small and medium-sized businesses in Canada are regulated by the individual provinces and territories.
Does my Bloc Québécois colleague think that the Government of Quebec could enter into an agreement with the federal government to improve the federal level's capacity to fight money laundering while respecting Quebec's jurisdictions?
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- Apr/28/23 10:26:14 a.m.
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Madam Speaker, I know that the Bloc Québécois will be supporting this bill. I would like to know if they are open to accepting some amendments to protect the privacy of small and medium-sized businesses and individuals, in certain cases, and to create more rules so that this work is not left to the civil servants after the bill is passed.
Is the Bloc Québécois open to protecting confidentiality in some cases?
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- Apr/28/23 11:58:11 a.m.
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Madam Speaker, for those in the middle class and those working hard to join it, it has been eight years of these Liberals, and things have never been more unaffordable. Despite committing $90 billion to housing, people cannot find a place to live. The average rent and mortgage have doubled, and home prices have skyrocketed. It costs $2,500 a month for a couple to rent one room in a townhouse. That is not the townhouse, just the room.
When will the government get back to work and let small businesses build the homes that Canadians need?
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- Apr/28/23 11:59:23 a.m.
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Madam Speaker, I feel as though I am living in a dystopian fantasyland, as outlined in the novel Nineteen Eighty-Four, and hearing doublespeak. For everything the minister says, we should assume the opposite is the truth.
The reality, in this country, is that self-employment is dropping off a statistical cliff and, as a result, fewer homes are being built. Therefore, I will ask this again: When will the government get back to work and let small businesses build the homes that middle-class Canadians need?
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- Apr/28/23 12:12:25 p.m.
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Madam Speaker, today, I am pleased to table a petition on behalf of Punjabi Canadians across Canada who are calling on the government to establish direct flights between a Canadian international airport and Amritsar in the Punjab.
We have over one million Canadians of Punjabi descent. It makes economic sense. It is good for business. It is good for culture. Let us get it done.
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- Apr/28/23 12:41:28 p.m.
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Mr. Speaker, the member for Nepean raised two areas of amendment: on disclosure of information, such as citizenship, and on the significant interest threshold, which members on our side have raised during the debate today as well.
I would like the member's opinion about whether the Liberal Party is open to further amendments on the penalties for corporations and individuals. In some cases, penalties in the legislation go up to $200,000, but are as low as $5,000 in other cases for corporations. Would the member opposite be open to further amendments to ensure that people who seek to launder money in Canada and have a registered corporation at the federal level would be accountable to higher penalties?
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- Apr/28/23 12:55:49 p.m.
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Madam Speaker, one of the concerns I have with the bill is the ability of law enforcement agencies in Canada to use the information in a correct way to go after money launderers and those who would be committing crimes under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
I was pleased to see that the member for Richmond Hill referenced the Cullen commission in British Columbia. I wonder if the Liberals would be open to exploring at committee stage further clarifications as to the power of law enforcement to use this tool to get to the root of the criminals who are undertaking money laundering in Canada, denigrating our institutions, and as a result, Canadians losing faith in the ability of our law enforcement to combat these kinds of crimes.
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Madam Speaker, overall, as the member for Winnipeg North summarized, we have been having a pretty comprehensive debate on Bill C-42. There have been suggested amendments from each party, with broad unanimity that we need to take further action to combat money laundering in Canada and its impact on the housing market. I was particularly pleased that a number of members on all sides raised the Cullen commission and the impact crimes are having, especially on British Columbia.
The future public beneficial registry will be a tool to combat the use of illicit funds in our economy. Is the Liberal Party open to providing further clarification as to the extent of the power of law enforcement to use it? What other tools can we give our law enforcement agencies to make sure that money laundering is finally combatted in the way Canadians expect us to do?
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- Apr/28/23 1:25:50 p.m.
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Madam Speaker, another question on where the government stands on possible amendments relates to the impact of significant interests. Under the legislation, only individuals with over a 25% interest in a corporation would be covered under the beneficial ownership registry before us today. Is the government open to making amendments to the law that would lower the threshold of significant interest?
Second, it has come up in debate today that there are questions about whether trusts will be covered under this beneficial ownership registry. Is the government open to examining the impact of trusts as they relate to money laundering as well?
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