44th Parl. 1st Sess.
November 6, 2023 11:00AM
Mr. Speaker, my question for the minister is in relation to the amendment we are debating now at report stage. We are dealing with section 15, which basically takes cabinet out of the beginning of the process and says the minister only has to go back to cabinet at the end of the process if a national security review says there is a problem. If not, the minister does not have to go back.
Does the minister not believe that we get better decision-making by having all cabinet colleagues involved in the decision-making, not just an individual industry minister making that choice?
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Mr. Speaker, it is nothing but a bunch of myths from the Liberal minister. He bragged earlier that he had dropped the threshold; he did not. I brought that motion in, and Liberal MPs voted against it. I brought in the amendment to the committee that put bribery and corruption in. Liberal MPs voted against it. The only reason it is through is because the opposition put it in.
The whole point of report stage is to allow for further amendments. The minister has ignored for a half hour the call to say yes or no to whether he thinks cabinet should be eliminated from the process of reviewing foreign investments. His bill would remove cabinet from that process and put it solely in the minister's hands.
Why, for a half hour, has he decided not to answer the question? Will Liberals support our amendment at report stage to return cabinet decision-making to the Investment Canada Act, yes or no?
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Mr. Speaker, he still has not answered the question. Yes or no, will he vote to return cabinet decision-making to the Investment Canada process? Why does he think he is so important he is allowed to ignore his colleagues in that role in making those decisions?
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Mr. Speaker, I was interested in the member's speech, particularly because 30-year NDP House leader Stanley Knowles would not have been impressed with the NDP voting for closure and eliminating debate in the House once again.
Aside from that, this report stage debate is specifically about our amendment to the bill to return the cabinet decision-making process to the beginning and the end decisions on whether an acquisition by a foreign entity poses a national security review.
The hon. member's colleague from Windsor West has done some good work on this bill as well. Will he and his party be supporting our amendment at report stage?
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- Nov/6/23 3:39:28 p.m.
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Mr. Speaker, as a point of clarification, as a witness—
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Madam Speaker, I know my colleague from Calgary Centre has done a lot of good work in the area of mergers and acquisitions throughout his career. I would like him to comment on what we are actually debating today that some members in the NDP-Liberal coalition do not seem to want to talk about, which is the removal, in the bill, of cabinet from the decision-making process.
Given that my colleague has sat at C-suite tables and board tables, and I know he understands how cabinet works, does he not think decision-making processes in the area of foreign takeovers would be much enhanced by the collective decision-making of a management team, a board or a cabinet as opposed to letting one lone minister make the decisions?
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Madam Speaker, one of the amendments in committee that was defeated by the Liberals said that any takeover in Canada by a corporation whose headquarters are resident in Beijing would be automatically reviewed. The Liberals voted against that for some reason, perhaps because Beijing's government is most admired by the Prime Minister.
I am wondering whether the member could comment about what would possess Liberals to oppose an amendment that would force an automatic review.
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Madam Speaker, I would like to give the hon. member an opportunity to comment on the issue we are debating, which he did extensively. A lot of the questions from the government and the NDP are not about what we are debating today, which is whether cabinet should be included in the decision-making process.
I would like the member to comment in particular about the members from the Bloc, who seem to think it is okay for cabinet to be eliminated and therefore have no Quebec input on acquisitions made of Quebec companies. Does he thinks it is hypocritical of the Bloc to not express itself on whether it thinks cabinet decision-making should be there in any foreign takeover of a Quebec company?
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Madam Speaker, I enjoy serving on the committee with that hon. member, who does amazing work and has worked very hard on this bill.
I know one puzzling thing is that, as we are here in report stage actually debating a further amendment to the bill that we proposed, somehow, we have not heard from the Bloc Québécois on whether they believe that the minister, on his or her own, should be able to make the decisions on a foreign acquisition of a Quebec company, without any input from cabinet colleagues in Quebec. That is the change the government is trying to make to the bill, removing cabinet from the process, which could potentially remove Quebec from any input in the decision-making on a foreign takeover.
Could the member comment on why we have had such silence from the Bloc on this issue?
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Madam Speaker, an amendment was promised at committee that all companies headquartered in China would be subject to an automatic review. The Liberals defeated that amendment. Could the member explain why?
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Madam Speaker, I listened with interest to the member for Lethbridge's speech, and I am particularly interested in the example she gave about Hytera. For those who are watching and do not understand, the Chinese-based state-owned company that bought it does not make money; it actually loses money every year. These state-owned enterprises are not only acquiring Canadian companies but also winning contracts by being the lowest bidder for Canadian companies not making money.
Could the member please inform the House what she thinks the motivation might be of a state-owned enterprise if it is not making money in acquiring these businesses?
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Madam Speaker, on a point of order, I would like a quorum call.
And the count having been taken:
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Madam Speaker, in studying the bill before us, the Liberals had an opportunity to reflect what actually is going on in the world rather than just putting in a fairly basic bill that just focused on time rather than on national security. I am wondering whether the member could comment on the lost opportunities the government had in introducing the bill without any substance.
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Madam Speaker, I will do something unusual and ask a question about the bill, unlike the Liberal members, who seem to want to talk about everything but the bill.
The bill is about returning cabinet decision-making to the Investment Canada Act process. I know the hon. member is a former international trade minister and knows more than probably anyone on the government side in the House about cabinet decision-making and the role and importance of it. Without it, we have had poor decisions by the now VP for Rogers, former member Navdeep Bains of the government, who basically said that anything China wanted to buy China could have without a national security review.
I wonder if the member would enlighten the House as to the proper way a cabinet decision-making process should be when a hostile state like China is trying to acquire the assets of our country.
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