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House Hansard - 247

44th Parl. 1st Sess.
November 6, 2023 11:00AM
Context: House Hansard - 247 - Nov/6/23
Hon. John McKay (Scarborough—Guildwood, Lib.)
  • Nov/6/23 4:22:35 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, foreign investment has generally been based on the size of the transaction and/or the sector in the transaction. It has now come to the point where size or sector does not actually matter, in terms of security review and the sensitivities involved. Small companies can create security difficulties for Canada. Sectors one would never have thought of can create difficulties for Canada, particularly dual-use sectors. I am interested in the hon. member's comments as to whether this bill addresses this dramatic change in what should be available to or reviewed by the Canadian authorities.
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Context: House Hansard - 247 - Nov/6/23
Mr. Ali Ehsassi
  • Nov/6/23 4:23:29 p.m.
  • Watch
  • Re: Bill C-34 
Madam Speaker, yes, my hon. colleague has rightly emphasized that our regime, as a general rule, has thresholds in place that allow us to screen investments coming in. In other instances, it is sectoral because there are various sectors of the economy that are vulnerable to falling into the wrong hands, if you will. These have been ongoing changes. I made reference to changes that we made in 2021 and 2022. This does not mean that if we bring in some of these new provisions, they are necessarily replacing all of the old safeguards that were there previously. Our intention has always been to have the gold standard when it comes to screening investments coming in. This will ensure that we will continue to lead the way in having a good, robust system in place, which does evolve as security threats around the world evolve.
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