44th Parl. 1st Sess.
November 9, 2023 10:00AM
Mr. Speaker, it is an honour to rise today to speak to Bill C-34, otherwise known as the national security review of investments modernization act.
With it being so close to Remembrance Day, I too would like to offer my appreciation for all those who have served and continue to serve, and all the families that support them. I would encourage everybody to make sure they attend a ceremony this Saturday to honour and respect veterans for all of the work they have done.
Speaking of our security, the NDP-Liberal coalition has, for far too long, not taken our national security seriously, so it is good to see some efforts being made through the legislation before us. Unfortunately, our reputation on the world stage has taken a beating over the past eight years. We have seen numerous diplomatic debacles over those years, and a Prime Minister who regularly embarrasses Canada on the world stage. It seems that every time I go on social media, another country's news broadcast is mocking the Prime Minister. It is one thing to embarrass oneself with a tickle trunk of outfits to wear to another country or by wearing blackface more times than one can remember, but the Prime Minister has forced our allied nations to lose confidence in us as a partner.
Just this past July, Dan Sullivan, a United States senator from Alaska, called out the Liberal government for consistently failing to meet NATO’s 2% GDP target for defence spending. What is worse is that the Liberals are cutting $1 billion from our defence budget this year. While the American ambassador played it nice a few weeks ago and said he is not yet worried about our failure to meet our NATO targets, we all know and can recognize how our allies feel about Canada these days. If we had been taking our national security seriously, perhaps Australia, the United Kingdom and the United States would not have separated off from the Five Eyes alliance and created their own strategic defence partnership without Canada.
With regular disruptions to our ports and railways, we are losing the perception of us as a reliable trading partner that can deliver the goods we produce here in Canada to market. With a changing climate, our adversaries see the north as an opportunity. They see a wealth of resources and future transportation routes, and we are increasingly unable to protect our own sovereignty in the north. The sad reality is that under the Liberal government, we have become a bit of a laughingstock on the world stage, and it is disappointing to admit that. However, I cannot think of a single nation around the world with which our relationship has improved over the past eight years.
Given all of the failures internationally, one would assume that perhaps we would want to take care of our domestic economic needs here at home, but we have not done that. Although we are taking a good step with this legislation, after eight years, foreign state-owned enterprises, particularly those connected with the Communist regime in China, have heightened their influence in Canada. I will provide a few examples. In 2017, the government allowed Hytera Communications, a firm with ties to China, to acquire B.C.-based satellite communications company Norsat International. In 2020, Nuctech, a company owned by the Chinese government and founded by the son of a former Chinese Communist Party secretary general, won a bid to, get this, provide security equipment to over 170 Canadian embassies around the world. Imagine that. The government was going to entrust the security of Canadians stationed abroad to technologies linked to the Chinese Communist Party.
I know there are a lot of examples like this, but I will end with one more. Just last year, the CBC revealed that in 2017, the CBSA began using radio equipment and technology from Hytera, the company I just referenced. It was quite literally using the technology at our borders while our main ally, the United States, was indicting the company for 21 espionage charges. It banned the company from operating and doing business because it posed an unnecessary risk to national security. At the same time as our border guards were using the equipment, our American counterparts and friends were kicking the company out of their country.
It seems as though often the current government is focused on political interests and not our national interests. We should not be surprised. We all remember when the Prime Minister alluded to his level of admiration for China's basic dictatorship. It is perhaps why the Liberals have given China so many passes and why they have allowed Chinese-linked companies and agencies to infiltrate our university campuses, co-opt our research and take our technologies that innovative Canadians, innovative students and innovative companies in Canada have been spearheading.
We could talk about all these failures all day, but I want to address specifically some pieces of Bill C-34. I was pleasantly surprised that the Liberals brought the legislation forward, because it is an important idea to try to always enhance our national security, particularly as things evolve and our competitors become our allies and our allies become our enemies in the global world.
The goal in the legislation of amending the Investment Canada Act to protect our national security is not a bad one at all, but I really thought that for once, the Liberals had come up with their own idea. However, looking back to our 2021 platform, I noticed we had pledged to do the same thing: “Canada's Conservatives will: Protect Canadian intellectual property with a strengthened Investment Canada Act”. As the old proverb goes, imitation is the highest form of flattery, and there has been a lot of mimicking going on lately. My first speech in the House was just last month, about the affordable housing and groceries act, which was plagiarism, effectively, of two Conservative bills, Bill C-356 and Bill C-339. Of course we also saw, just last week, a climb-down on the carbon tax for home heating for some Canadians in some parts of the country.
Not all mimicking is bad, but at the end of the day, as my fellow Manitoban colleague from Selkirk—Interlake—Eastman said, “The Liberals are tired, they are weary and they do not have anything else to bring forward”. This seems to be the case. While I would prefer an election so we can put forward a strong platform that will include enhancements to the Investment Canada Act, among many other things, I do hope the current Liberal-NDP coalition keeps copying a few of our ideas. It can start with axing the carbon tax in its entirety, but I am not going to hold out a lot of hope.
Overall, Bill C-34 needs to go further. It does not go far enough to address the risks faced by Canadians. By and large, the largest threat we have to investments here in critical services is by state-owned or state-connected enterprises from authoritarian regimes like China and Russia. Canadians are rightly concerned about this problem. Foreign direct investment is a good thing. We should want to draw investment dollars into our communities. However, we should also want to maintain our sovereignty and our national interests. The reality is that we have become a place where people do not want to do business. Investments in our natural resource sectors, among many others, are flooding out. Our counterpart, the United States, which does not have a carbon tax, is more appealing to do business with. Companies would rather go just south of the border, south of my riding, and set up business there.
The bill does not include the ability for the government to create a list of authoritarian countries that are prohibited from owning Canadian companies or assets, which I think it should do. The Conservative team, at the committee stage, did a great job of bringing forward common-sense recommendations for changes to the legislation. Not as many were adopted as should have been, but Conservatives did work hard to fix some of the flaws.
One last issue that is becoming increasingly important and visible, particularly in my area in the Prairies, is the increased buying of farmland by Chinese-linked companies and organizations. Not only does this threaten our long-term food security but it also significantly increases prices for young farmers who are trying to enter an already very difficult industry to get into. It is important that we enable the Investment Canada Act to be broad enough and flexible enough to have cabinet be able to make important decisions on whether a takeover or change in ownership is in the best interest of Canadians. This seems like common sense to me. We know it is something only Conservatives can provide.
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Mr. Speaker, Ontarians are very familiar with the Conservative slogan “common sense”, because the former premier Mike Harris, when he brought along common sense, ended up with unsafe drinking water and a countless number of problems based on his common-sense revolution. Therefore, it is pretty clear where the common sense from Conservatives is.
I want to go back to the member's comment, specifically when he said that $1 billion was being cut from the defence budget. His implication was that this was going to affect the CAF. No member of the Canadian Armed Forces is going to be affected by this. As a matter of fact, what is going to be affected by what is being talked about by the minister is reducing the number of outside contracts and the number of third party agreements that the government has. Ironically enough, the member then went on to criticize this later in his speech.
Would the member agree with me that, at least as it relates to government business, finding savings in terms of less contracting out, which is what that $1 billion is about, is a good thing?
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Mr. Speaker, what a weird time it is to cut $1 billion. I am all for finding efficiencies in government, and after the last eight years of absurd inflationary spending, we absolutely can find billions of dollars to cut. I find it interesting that we are finding cost savings by going to a third party consulting company and paying it $660 million to give us advice on how we can best stop spending money on consultants.
It is important, at the end of the day, that when my colleague criticizes common sense and links it to the Mike Harris days in Ontario, my constituents, my friends and my neighbours have common sense. They know it when they see it, and they know they do not see it in the current Liberal government.
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Mr. Speaker, I congratulate my colleague on taking a seat in the House.
One of the things that the member spoke about today was the idea that over the last eight years, Canada has become diminished on the world stage. I would say that while it is true that Canada is diminished on the world stage, it is not something that happened just in the last eight years. In fact, the cuts that we saw to official development assistance under the Harper government were directly responsible for Canada's not being able to get a security seat when we tried for that seat. The cuts by the Harper government and the failure of the Liberal government to reverse those cuts were a huge part of that, as the continent of Africa saw that we had stepped back from participating in a meaningful way with it.
The member also spoke about the need to not invest in China because of the human rights abuses that we are seeing in China and with China being a belligerent on the world stage. I wonder whether the member has any comments to make about the fact that we have a new Indo-Pacific strategy and that India, under the Modi government, has shown itself to be belligerent and not to be following human rights as well. Therefore, are we not taking our eggs from one basket that is not adhering to our beliefs as Canadians for human rights, and putting them into another basket where human rights are also not being protected?
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Mr. Speaker, I thank my colleague across the way for the well-wishes.
I will start by saying that there has been a shift over the past eight years. We had a previous prime minister who was strong and principled on the world stage. I think back to the moment when he told Putin to get out of Ukraine the first time that he invaded. That is the Canada I want to be a part of. I want to have a strong foreign policy vision for our nation.
In terms of India and China, the member is right: Our best strategy is diversification. We are an export nation. We are a natural resources-based nation. We are a trading nation, and it is something we should be proud of. A pan-American agreement is a good approach. At the end of the day, we need to make sure we are doing things in the best interest of Canadian companies and of Canadians themselves.
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Mr. Speaker, it is the first chance I have had to address the hon. member for Portage—Lisgar since his win in the by-election. I would like to congratulate him. I look forward to working with him in this place, as I did with his predecessor.
In terms of the piece of legislation before us, I am very concerned that we apply a new lens to foreign investment in Canada, from a national security point of view and from a national sovereignty point of view. We have had the recent experience, which I have mentioned in this place, of something that did not ring any bells or raise any flags as it began, which is a company called Paper Excellence. It is owned by one billionaire from Indonesia who has now bought up the majority of the pulp and paper sector of our economy: Resolute Forest Products, Catalyst paper and Domtar. How do we track that? What triggers an investigation when we start seeing the Canadian economy bought up and held in countries like Indonesia where we do not at this point have a relationship that would let us track that?
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Mr. Speaker, that was a very good question. The fact is, it took eight years. That is too long. We do need to act and to make sure we have the flexibility to look at evolving national interest issues and track them better so we can be more flexible and responsive in identifying problematic investors.
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Mr. Speaker, I am going to be splitting my time with the member for North Okanagan—Shuswap.
It is always an honour to bring the voices of Chatham-Kent—Leamington into this chamber. Today, I look forward to addressing the third reading of Bill C-34, an act to amend the Investment Canada Act, with the aim of protecting Canada’s national security. That is the important part.
After eight years of the Prime Minister, numerous foreign state-owned enterprises have acquired interest and control in many Canadian companies, intellectual property, intangible assets and the data of our citizens. As usual, the government has done too little, too late, to fully protect our national economic and security interests.
While Conservatives are pleased that four of our amendments were passed at committee, we are a bit bewildered as to why the Liberal-NDP government would want to water this legislation down. It defeated 10 amendments that would have made Canadian interests more fully protected by having better legislation. Why?
One of the amendments defeated at committee would have modified the definition of a state-owned enterprise to include any company or entity headquartered in an authoritarian state, and of course, one of the main ones there is China.
The House of Commons Special Committee on Canada-China Relations presented an interim report to the last May that was entitled “A Threat to Canadian Sovereignty: National Security Dimensions of the Canada–People’s Republic of China Relationship”. This report offered an in-depth review of the national security implications related to the PRC’s actions. It addressed key national security topics, including the safeguarding of Canadians from foreign interference, preventing threats to Canada’s democratic institutions and elections, defending intellectual property and research, enhancing cybersecurity, combatting organized crime and money laundering, addressing global health governance threats and scrutinizing the PRC’s intentions in the Arctic. This report should serve as a warning. We need to align ourselves with our allies.
The U.S. has created a committee on foreign investment in the United States, or CFIUS, which is an inter-agency committee authorized to review certain transactions involving foreign investment in the U.S. and certain real estate transactions by foreign persons, to determine the effect of such transactions on the national security of the U.S.
Have we not learned our lessons, through COVID, by allowing critical elements of our economy to be put under foreign control? A recent CBC article said, “Casey Babb, an international fellow with the Glazer Centre for Israel-China Policy and an instructor at Carleton University in Ottawa, said China uses foreign investment as a strategic tool.”
I am going to quote him from the article: “They use foreign investment as a door, as an entry point, to gain access to markets, to gain access to government, to investors as well”.
He goes on to say, “It's a great way to sort of use licit means to carry out illicit, or even legal but injurious, activities.” Dr. Babb also said that “China is looking to tap into [Canada's] natural resources, including oil, critical minerals and fish.”
The government’s “soft on China” policy must end. One of the amendments it refused to pass sought to list specific sectors necessary to preserve Canada’s national security, rather than using a systematic approach.
Let me provide a personal example of a sector-specific area. On our own farm in Leamington, in the years prior to the Ukraine-Russian war, we actually used more Belarusian potash on the farm than our own Canadian Saskatchewan potash. Why? Sea freight is relatively cheaper than rail freight. Why is our rail freight so expensive? Because it is being tied up hauling crude oil to eastern refineries, rather having that oil flow through an energy east pipeline, which is lowering our rail capacity for moving potash and other goods that cannot move by pipeline. Supply and demand drives up the cost of freight.
In addition, 660,000 to 680,000 tonnes of nitrogen fertilizer, mainly urea, were imported pre-war into eastern and central Canada. Why is western natural gas not flowing through a pipeline to fertilizer manufacturing plants here in eastern Canada? Again, Russia's invasion of Ukraine should teach us a lesson. Where we have critical inputs in Canada, we should ensure that we have the infrastructure that could be used domestically so that we would have competitive prices vis-à-vis foreign options.
Another Conservative amendment that failed to pass would have exempted non-Canadian Five Eyes intelligence state-owned enterprises from this national security review process to prevent an overly broad review process. This, unfortunately, sends all the wrong signals to our Five Eyes partners with whom the Liberal government's policies have been at odds.
Canada needs to be seen as a reliable player in this partnership. Under the current government, this has not been the case. Canada needs to restore its trustworthy reputation with the U.K., the U.S., Australia and New Zealand so that critical intelligence information gathered by one member can be confidently shared with other members.
Again, the failure of this amendment to pass sends all the wrong signals to our allies.
Amendment 25.4(1.1) would have allowed the Government of Canada to maintain ownership of intangible assets that have been developed in whole or in part by taxpayer funding. An example of an intangible asset, which I learned in preparation for this speech, is a radio frequency filtering system for our Mounties. What is that? It is a filter circuit made up of capacitors, inductors and resistors that is used to filter the signal frequency in communication channels.
What is behind this? Let us think back to 2017 when the China-based Hytera acquired a telecom company from B.C. called Norsat. This company has significant Chinese government ownership, but it does not make any money. Does that not send a signal that this should be looked at? This company significantly lost money for six years.
We rightfully called for a full national security review, but the industry minister refused, and he approved the Chinese acquisition that provided the RCMP with telecom equipment. Incredibly, the federal procurement department awarded a $550,000 contract to Ontario-based Sinclair Technologies to build and maintain the radio frequency filtering system for the Mounties. By the way, Sinclair Technologies is the parent company of Norsat International.
In 2022, Norsat was charged with 21 counts of espionage in the U.S., and President Biden banned it from the U.S. Just eight months later, the RCMP awarded China's Hytera subsidiary, Norsat, the contract to install telecom hardware in our RCMP communications systems.
When questioned at committee, the RCMP was asked if it knew whether Hytera was charged and banned from the U.S., and the answer was “no”. How can the Liberal government continue to let such enormous security breaches happen?
We all know how important lithium is for our economy. It is needed to make the batteries for our EV vehicles. In 2019, the Liberals approved the sale of Canada’s only lithium-producing mine to the China state-controlled Sinomine Resource.
Every ounce of lithium mined in Canada right now goes to China, while Canadians are unable to supply lithium to our own growing electric vehicle industry, which is putting our nation in a potentially vulnerable situation.
Again, in 2019, Conservatives demanded a full national security review. The “soft on China” Liberals ignored it. I guess this would explain why the NDP-Liberal coalition voted down amendment 25.3(1), which would have allowed the minister to go back and review past state-owned acquisitions through the national security review process, which would have allowed a more fulsome review.
Last week, the Prime Minister did show us that the Liberal government can go back, as it adjusted the carbon tax on home heating fuel in Atlantic Canada and in rural Canada. The government demonstrated it can reverse course after identifying a mistake. That, of course, was in response to polling, not in the interests of national security.
It is time for a common-sense government, a government that would allow our nation to prosper while at the same time protecting its citizens. Conservatives will continue to use our voices to ensure that both the prosperity and the protection of our citizens is defended.
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Mr. Speaker, I thank my colleague for his speech.
I would like to know what he thinks about something specific. Earlier, I asked a question about whether enough is being done to protect our head offices. The member told me that he agreed with me but that there must be balance in all things. What we want to do locally—
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- Nov/9/23 4:06:08 p.m.
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Sorry, I think there is a problem with the interpretation. We will wait for that to be sorted out.
It is my duty pursuant to Standing Order 38 to inform the House that the questions to be raised tonight at the time of adjournment are as follows: the hon. member for Saanich—Gulf Islands, Emergency Preparedness; the hon. member for Yorkton—Melville, Carbon Pricing; the hon. member for Abitibi—Témiscamingue, Sport.
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- Nov/9/23 4:12:07 p.m.
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The problem with the interpretation has been fixed. The hon. member for Berthier—Maskinongé may continue.
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Mr. Speaker, I will start from the beginning. I was thanking my colleague for his speech and telling him that a little earlier, I had mentioned that the Bloc Québécois members feel that this bill does not go far enough in protecting head offices.
However, as in everything, there needs to be balance, reasonable measures. We cannot shut down all outside investment. Several MPs have reiterated today that there needs to be outside investment as well. It is a question of striking the right balance. How do we implement good measures that preserve jobs, to try and maintain our technological innovation, but without blocking all outside investment?
I would like my colleague to share his thoughts with us. Where do we find the balance to be able to export, too, at some point?
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Mr. Speaker, I agree with my hon. colleague. We do want the investment here. Actually, some of the amendments proposed were going in the direction of allowing a less rigorous process for our Five Eyes allies, who have better processes in place than we have right now, to have reciprocity in the approval process. In addition, one of the amendments targeted only authoritarian states, which tend not to be our allies. There was differentiation, if we look at all the amendments, that allowed for a differential process depending on where a potential investment was coming from.
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Mr. Speaker, my hon. colleague is a new member, as am I, of the international development caucus, and I enjoy working with him very much on that work.
I have a couple of things. First of all, he talked about the need for Canada to play a bigger role in the world so that our allies share intelligence with us. However, I cannot help but point out that the leader of his party, who is hoping to be the prime minister of this country, refuses to get top security clearance and in fact would not be able to benefit from their intelligence in any way.
The other thing he spoke about was the need for us to invest in energy infrastructure. My friend, the member for Timmins—James Bay, and I were in Germany meeting with the Chancellor and the head of the chancellery at this time last year, and they spoke to us about the need to translate their energy sources. They wanted their energy sources to become green. They were not interested in a long-term investment in fossil fuels. They wanted to get off fossil fuels, so building the infrastructure for fossil fuels that, in fact, the rest of the world is already moving away from does not seem like a very smart strategy.
I am wondering if he could comment on that.
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Mr. Speaker, my hon. colleague and I both have a passion for addressing hunger. There are eight billion people in the world. Four million of them are dependent on synthetic nitrogen fertilizers made through the Haber-Bosch process from natural gas.
If we had the pipeline that I referenced in my speech to eastern Canada, in the short term, we could have addressed the needs of our allies Germany and Japan, which have come calling for LNG. There will continue to be a need for infrastructure dealing particularly with natural gas.
We could also do far better in addressing the world's expanding use of coal with LNG. That would do more than any carbon tax ever will, as the record of it is showing, in reducing world greenhouse gas emissions. It was predicted 10 years ago that we would reach peak coal. We set a record in coal consumption in the world last year. We are predicted to smash that record this year. Why are we not putting Canadian LNG on the world market? It is because we do not have the infrastructure to deliver it to our allies and to some of the countries still putting coal-fired plants online.
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Mr. Speaker, we know that after eight years of the government's policies, the OECD put out a report that says Canada will have the worst performing economy in terms of business investment out of the entire industrialized world this decade and for the next two subsequent decades as a result.
I am wondering if the member could comment on this piece of legislation and the fact that the 10 amendments proposed by the Conservatives that were voted down by the NDP-Liberal coalition could have perhaps been part of a remedy to that situation.
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Mr. Speaker, absolutely. If the member wants to know more, I can add to that.
There are so many places where Canada could be leading, and we are not because we have not made the investments in our infrastructure. That needs some discerning. This legislation is a step in the right direction, but it does not do nearly enough to allow us to screen potentially helpful foreign investment to get the infrastructure we need to serve our allies, and it does not do enough to protect our mineral assets and other critical assets for advancing our economy here at home and abroad.
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Mr. Speaker, it is always an honour to rise in this House as a representative for the amazing people and spectacular region of North Okanagan—Shuswap.
Before I speak to Bill C-34, I would like to acknowledge that this is Veterans Week. I also acknowledge the recent loss of a dedicated community volunteer, constituent and friend, Steve McInnis, a 37-year veteran with the Canadian Armed Forces, where he served with distinction. In 1988, the Nobel Peace Prize was awarded to UN peacekeepers, and Steve received this fitting recognition for his service in the cause for peace in the Sinai peninsula from 1977 to 1978. Steve served his country and community proudly and with distinction and will be deeply missed. I am confident Steve has reconnected with his long-time friend and fellow veteran Paul Shannon for beers, laughter and, of course, their famous shenanigans.
I say to Steve, Paul and indeed all veterans and Canadian Forces families that Canada appreciates their sacrifices and we will never forget.
I rise today to speak to Bill C-34, an act to amend the Investment Canada Act. The proposals of this bill seek to amend the Investment Canada Act's governance of acquisitions of Canadian companies by foreign entities. After eight years of Liberal inaction, this bill is long overdue. I will provide some examples of how overdue it is.
In 2017, six and a half years ago, red flags were raised and alarm bells sounded about the takeover of B.C. seniors homes by profiteers in Beijing. I will quote one of my Conservative colleagues at the time, the former MP for Kamloops—Thompson—Caribou, Cathy McLeod, who stated:
Our seniors are concerned about the quality of care, of food, and the credentials of the people caring for them. This transaction is clearly not about charity; it is about profit. Why would the Prime Minister put the care of our parents and grandparents at the mercy of profiteers pulling strings from Beijing?
The Liberals' response to Ms. McLeod's concern was dismissive and short-sighted. As the industry minister at the time, Navdeep Bains, said, “the additional financial resources will allow Cedar Tree the ability to expand, provide better service, and create more jobs.”
Despite the Liberal reassurances back then, services for B.C. seniors were neither expanded nor improved. To the sad contrary, services became worse. It was B.C. senior citizens who suffered when multiple Beijing-controlled senior care homes failed to achieve standards of care for some of our most vulnerable citizens. The Liberals ignored warnings from the Conservatives, and the result was a Beijing-controlled disaster that caused suffering for seniors in British Columbia, suffering the Liberal government was warned of, suffering it ignored and suffering it enabled. That was the first example of how the government's hesitance and delay in protecting Canada have hurt Canadians.
As another example of how overdue this bill is, I will reference a 2019 report from the Standing Committee on Fisheries and Oceans, entitled “West Coast Fisheries: Sharing Risks and Benefits”. The fisheries committee undertook this study in response to very serious concerns raised by Canadian fish harvesters and coastal communities who had seen their access to Canada's fisheries eroded by increasing levels of foreign control.
The committee's study was in response to alarm bells warning us about very significant portions of Canada's west coast fisheries being bought and owned by foreign buyers. Alarms were raised by Canadian fishers who were and continue to be very concerned about the loss of control of not only a valuable Canadian food source to foreign entities, but a source of culture, economies and well-being for our coastal communities. The Liberal government should have acted sooner in response to the testimony we heard during that study, which pleaded for the government to protect Canada's interests from foreign interests. One witness testified:
As for overseas investment, besides a few large companies, this is very hard to trace, but there are examples. For instance, you may have heard of the recent scandal with money laundering through gambling and real estate in B.C. We traced one company that has been investing in groundfish and now owns 5.9 million pounds of quota. The director of this company is the same overseas investor named in newspaper articles on money laundering through casinos and real estate in Vancouver.
This testimony was provided to Parliament over four years ago. What is even more troubling is that even though that report was tabled in this House back in May 2019, the same fisheries committee was recently provided an update on the Liberal government's progress in addressing foreign takeovers. That update exposed that the government has failed to prioritize and take actions required to prevent foreign ownership and the control of Canadian fisheries resources that Canadians and Canadian communities depend on.
One key recommendation from that 2019 report stated:
That based on the principle that fish in Canadian waters are a resource for Canadians (i.e. common property), no future sales of fishing quota and/or licences be to non-Canadian beneficial owners based on the consideration of issues of legal authority, and international agreement/trade impacts.
When the committee received an update on the Liberal government's response to that report recommendation, we learned that the Department of Fisheries and Oceans still had no way of knowing who owns what when it comes to west coast fishing licences and quota. The Liberals put out a botched survey to try to find out, but little else has been done to address the issue.
These are just two examples of how the Prime Minister and his government cannot be trusted to do what is right for Canadians' interests. I will say, though, that there are members of this House who can be trusted to provide improvements to legislation, even such as this bill, which was flawed as originally drafted. I would like to recognize and thank my colleague, the hon. member for South Shore—St. Margarets, for the work that he and other Conservative members of the Standing Committee on Industry and Technology have done on Bill C-34 to strengthen it and hopefully deliver some much-needed and overdue protections to Canadians.
At the committee stage, the member for South Shore—St. Margarets recognized the flaws in this bill and, by working with the other opposition parties, was able to get significant amendments passed to strengthen the bill and protect Canadians' interests. Some of those amendments included, number one, that for any state-owned enterprise from a country that does not have a bilateral trade relationship with Canada, the threshold for review by the Government of Canada would be zero dollars, and number two, that any transaction over zero dollars would be reviewed, compared to the threshold now, which is $512 million.
Chinese government-controlled and other foreign entities are buying a lot of assets through sales of under $512 million now, without review. The new threshold, should this bill pass, would be zero dollars to trigger a review. The same would apply for a new concept that was added, which is that all asset sales would need to be included in the test with a state-owned enterprise so that an investment to acquire, in whole or in part, the assets of an entity could be subject to a review.
As I close today in the final minutes of debate before we all return home to our communities to take part in Remembrance Day ceremonies, on behalf of my family and all the residents of North Okanagan—Shuswap, I would like to express my deepest gratitude to the brave members of our Canadian Armed Forces for their service, and express this gratitude to Canada's veterans, many of whom made the ultimate sacrifice for our freedom, and to their families. We will never forget.
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Mr. Speaker, I am glad my colleague from North Okanagan—Shuswap brought up the example of the long-term care homes that have been so problematic in our valley and in our province of British Columbia. The company Anbang, through Cedar Tree and others, perpetuated a situation of very poor care for our seniors: mothers, fathers, grandfathers and grandmothers. The NDP put forward an amendment to make it such that, if a foreign government took over a company after a foreign company had been cleared, as was the case with Anbang Insurance, Canada should act. When the NDP amendment was put forward for this bill, the government members said we could already do that.
Could the member comment on that and whether the government should take immediate steps to take over the company that is taking care of our seniors, since we really do not trust it to do that?
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Mr. Speaker, the member for South Okanagan—West Kootenay is correct. We need to do everything we can to ensure the safety and well-being of our senior citizens, especially those who are in care homes and do not have families to support them.
With respect to the technicalities of exactly what the current government can and cannot do, I would not want to be quoted on that. I believe it is a bit more of a legal decision. However, I agree with the member for South Okanagan—West Kootenay: We need to ensure that there are measures in place to protect against foreign overtake of Canadian companies that serve our citizens. We must make sure that they are well protected.
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