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Decentralized Democracy

Adam Chambers

  • Member of Parliament
  • Member of Parliament
  • Conservative
  • Simcoe North
  • Ontario
  • Voting Attendance: 68%
  • Expenses Last Quarter: $121,028.17

  • Government Page
  • Feb/17/23 10:15:13 a.m.
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  • Re: Bill C-34 
Mr. Speaker, my colleague may be happily surprised to hear Zellers is returning in a few locations. That may be some welcome news. In any event, the world is different today. Geopolitics changes over time and regimes change. That is why we need principles under which to look at all transactions. I agree about entities that are controlled by or influenced by a foreign power, for example, whether it is hostile or not. A hostile power today might not be a hostile power tomorrow, and one that is not today could be one tomorrow. Any time there is a lack of governance and transparency, the government should be on high alert and scrutinizing the transaction to the absolute highest degree.
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Madam Speaker, the hon. member is right. On many things we may disagree, but on this one we agree. It is important that the global community work together to combat money laundering. Unfortunately, in the last number of years, Canada has not kept up pace with other jurisdictions that have enacted more serious penalties and crimes and other regimes. I referenced the U.K. in my speech about unexplained wealth orders. There are a number of steps we could take. This is but one small step, and many other countries have done much more. I am hoping this is a positive first step that will support the government's objectives, including the beneficial ownership, which many other countries already have and Canada still does not have. Yes, we need to coordinate globally, but this is a small step forward that I believe gets us to a better place.
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