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House Hansard - 242

44th Parl. 1st Sess.
October 30, 2023 11:00AM
Context: House Hansard - 242 - Oct/30/23
Mr. Richard Cannings (South Okanagan—West Kootenay, NDP)
  • Oct/30/23 1:18:02 p.m.
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  • Re: Bill C-34 
Madam Speaker, unfortunately, I missed the first part of the member's speech, so I hope he forgives me if he mentioned this. The member sits on the science and research committee with me, which is looking into situations like this, where intellectual property and industry is leaving Canada because of foreign takeovers. I have talked to companies in the hydrogen tech sector, where, when they get to a certain size, they need some investment to expand to the next stage and the investment almost always comes from abroad, so the technology goes to China, the United States or Germany. I wonder if the member could comment on that process and how this legislation could help that or what the government could do to help keep those technologies in Canada.
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Context: House Hansard - 242 - Oct/30/23
Mr. Richard Cannings (South Okanagan—West Kootenay, NDP)
  • Oct/30/23 1:49:25 p.m.
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  • Re: Bill C-34 
Madam Speaker, I am glad my colleague mentioned Anbang. Retirement Concepts is a company operating a retirement centre in my backyard, basically, in Summerland. It was in trouble before Anbang, a Chinese-owned insurance company, got involved; that was approved, as the member said, probably mistakenly. Then, Anbang was taken over by the Chinese government. The NDP put forward an amendment to the bill before us that would trigger a review, with a previously okayed deal, if there was a subsequent takeover by a state-owned enterprise. Could the member comment on that and why the amendment did not pass through at committee?
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