House of Commons Hansard #151 of the 35th Parliament, 2nd Session. (The original version is on Parliament's site.) The word of the day was amendment.

Topics

Trade
Oral Question Period

2:55 p.m.

NDP

Chris Axworthy Saskatoon—Clark's Crossing, SK

Mr. Speaker, my question is for whomever is answering on behalf of the Minister for International Trade today.

As we know, the Liberals promised not to sign NAFTA without side agreements on jobs and the environment. The government broke that promise, as it did so many others, and signed NAFTA anyway. Now Canada is playing a leading role in negotiating the OECD multilateral agreement on investment which will prevent Canada from requiring employment targets of new foreign investment in Canada.

Yesterday the Minister for International Trade said that the Liberals will not sign unless this provision is taken out. Canadians could not trust the Liberals in 1993. Why should we trust them today?

Trade
Oral Question Period

2:55 p.m.

Ottawa South
Ontario

Liberal

John Manley Minister of Industry

Mr. Speaker, leave it to the NDP not to understand the importance of investment to Canada. That aside, negotiations respecting multilateral investment will be undertaken very carefully by the government. A number of criteria have been established which we have effectively enforced over the last few years in screening investments either on the part of Investment Canada or in the context of cultural policies.

As we move forward trying to find opportunities to liberalize investment, not just into Canada but on the part of Canadians elsewhere, we know that what we will gain from this is increased market access and better export sales by companies into other countries every billion dollars of which results in 8,000 jobs for Canadians from every part of Canada.

Bond Rating Services
Oral Question Period

April 8th, 1997 / 2:55 p.m.

Liberal

Alex Shepherd Durham, ON

Mr. Speaker, my question is for the Secretary of State for International Financial Institutions. The Dominion Bond Rating Service has recently upgraded Canada's short term debt position. However, other rating agencies are questioning our long term debt. Will the secretary of state address the concerns of some of these agencies in rating Canada's long term debt?

Bond Rating Services
Oral Question Period

2:55 p.m.

Scarborough East
Ontario

Liberal

Doug Peters Secretary of State (International Financial Institutions)

Mr. Speaker, the hon. member for Durham brings up a very important question. It has been the policy of the government to bring the fiscal health of the country back to a reasonable level, and we have done so.

The rating agencies have provided Canada with an upgrade on its short term debt which reflects the improved deficit position. More important, it reflects the improved economic conditions in the country. The DBRS provided us with a mixed message. It complimented us on the efforts in reducing the deficit and it noted that we have both low inflation and an improved current account balance which is a very difficult matter to achieve.

Next year we will see a decline in the proportion of debt to GDP. That is a critical milestone and a path to financial health.

Presence In Gallery
Oral Question Period

3 p.m.

The Speaker

I draw the attention of members to the presence in the gallery of members of the Legal, Constitutional and Administrative Review Committee from the Parliament of Queensland, Australia, led by Ms. Judith Famin, Chairperson.

Presence In Gallery
Oral Question Period

3 p.m.

Some hon. members

Hear, hear.

Ways And Means
Government Orders

3 p.m.

Scarborough East
Ontario

Liberal

Doug Peters Secretary of State (International Financial Institutions)

moved that a ways and means motion to amend the Income Tax Act, the Income Tax Application Rules and another act related to the Income Tax Act, be concurred in.

Ways And Means
Government Orders

3 p.m.

The Speaker

Is it the pleasure of the House to adopt the motion?

Ways And Means
Government Orders

3 p.m.

Some hon. members

Agreed.

Ways And Means
Government Orders

3 p.m.

Some hon. members

No.

Ways And Means
Government Orders

3 p.m.

The Speaker

All those in favour of the motion will please say yea.

Ways And Means
Government Orders

3 p.m.

Some hon. members

Yea.

Ways And Means
Government Orders

3 p.m.

The Speaker

All those opposed will please say nay.

Ways And Means
Government Orders

3 p.m.

Some hon. members

Nay.

Ways And Means
Government Orders

3 p.m.

The Speaker

In my opinion the yeas have it.

And more than five members having risen: