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Decentralized Democracy

Member of Parliament

Richard Cannings

  • Member of Parliament
  • Member of Parliament
  • NDP
  • South Okanagan—West Kootenay
  • British Columbia
  • Voting Attendance: 61%
  • Expenses Last Quarter: $128,729.57

  • Government Page
Context: House Hansard - 250 - Nov/9/23
Mr. Richard Cannings
  • Nov/9/23 12:32:30 p.m.
  • Watch
  • Re: Bill C-34 
Mr. Speaker, I am sure they were blueberries from British Columbia. They are bigger and better. I mentioned in my speech the fact of two very significant takeovers that happened during the Harper era. One was from, basically, the Chinese government, in our oil patch; the other was from Petronas, the Malaysian oil and gas company. Canada has, since its inception, relied on its natural resources to be the basis of our wealth. This is basically our birthright. It is what we have to really develop the Canadian economy. Therefore, I think we have to be very careful about any takeovers by companies that give foreign companies and, especially, foreign governments control over our natural resources, especially one as important as oil and gas. I think it is ironic, as I mentioned in my speech, that the Harper government banned the sale of oil and gas companies to foreign entities as soon as they approved those two acquisitions. I think it is certainly something that we have to really be careful of in the future. Hopefully, these incremental changes in Bill C-34 will help us do that.
188 words
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Context: House Hansard - 250 - Nov/9/23
Mr. Richard Cannings
  • Nov/9/23 12:29:59 p.m.
  • Watch
  • Re: Bill C-34 
Mr. Speaker, I would totally agree. In my speech, I briefly mentioned the need to really develop and bolster our intellectual property programs and culture in Canada. That is outside this act, which controls investment and the takeovers of Canadian companies. We are studying this in the science and research committee right now, about how exposed a lot of Canadian research and development is to foreign takeover, foreign theft and foreign entities taking our intellectual property because they have the legal right to it. The value in these companies today is intellectual property. AI is one example. It is lost so quickly and easily. We have to do everything, controlling it not only in these acquisition regulations but also in the period of science and research that leads up to some of these investments.
134 words
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