Debates of Feb. 9th, 2011

Paule Brunelle Trois-Rivières, QC

Mr. Speaker, the Minister of Natural Resources is trying to sound reassuring and is downplaying the risk of transporting nuclear waste on the St. Lawrence River by telling us that we are trying to instill fear in members of the public. But what the minister is not saying is that these generators, which are the size of 16 buses, would exceed by up to 50 times the international limits for the transport of radioactive waste.

How can the minister be so out of touch and maintain that this is not an issue?

Christian Paradis Minister of Natural Resources

Mr. Speaker, I repeat, we have to look at the facts. Once again, I urge the hon. member to, first, read and, second, understand the report. Then, if she would like, she can attend a briefing session, which the commission will offer to all members of the House of Commons.

Once again, we are concerned that members' false perceptions of the facts will cause public panic. This is irresponsible of them.

Christian Paradis Minister of Natural Resources

Mr. Speaker, I urge the environment critic to simply put on his glasses and read the report. The Canadian Nuclear Safety Commission, a quasi-judicial body made up of scientists, based its decision on scientific evidence. Those are the facts. I have asked commission representatives to give a technical briefing to those who are interested, including members of the opposition. I hope that they will attend.

Jack Layton Toronto—Danforth, ON

Mr. Speaker, the proposed TSX merger and takeover has Canadians worried. Canadian companies need access to foreign capital, but not at the expense of our own capital markets.

Will the Prime Minister take steps to ensure that this is a merger of equals and not a takeover, that there is access for smaller firms and that regional interests are respected? After having so badly mismanaged securities regulation, will he ensure continued Canadian oversight by Canadian authorities of our stock markets?

Stephen Harper Prime Minister

Mr. Speaker, I am not sure how the leader of the NDP can blame the federal government for securities regulation since right now it is regulated by the provinces, which is something we are trying to change.

The fact is this is a complex transaction. There is a law in place, the Investment Canada Act, that will look at these matters. The provinces themselves also have some approval processes. Until those things are done, I will not comment on this transaction.

Jack Layton Toronto—Danforth, ON

Mr. Speaker, we cannot trust the guarantees given by the financial community about this transaction. The TMX CEO said that he came to build the Toronto Stock Exchange, and now he is selling it.

Let us look at what happened in Montreal when the stock market merged with Toronto. The merger did not produce the expected results and the derivatives did not compensate Montreal for the financial exodus to Toronto.

Why would it be different with London?

Stephen Harper Prime Minister

Mr. Speaker, as I just said, this is a complex transaction. There is a legal process in place, pursuant to the Investment Canada Act. The provinces are currently responsible for regulating these issues. They also have their own processes. It is not appropriate for the government to make a comment at this time.

Jack Layton Toronto—Danforth, ON

Mr. Speaker, we are being told that we should trust the Minister of Industry on this, but we have seen that he cannot be trusted when it comes to making the right decisions on foreign investments. The Conservatives cannot tell the difference between beneficial investments and damaging takeovers. We are talking about a takeover, not a merger, despite the spin.

Will the Prime Minister commit to public hearings, to full transparency, so finally Canadians could have some role in making this decision themselves, not just leaving it to the Minister of Industry?

Stephen Harper Prime Minister

Mr. Speaker, we live to see everything when we hear the leader of the NDP in a patriotic defence of Canadian stock markets.

There is a law in place. The minister and the government will follow the law. It is a complex matter and it will be adjudicated according to the laws of our country.

Marc Garneau Westmount—Ville-Marie, QC

Mr. Speaker, discussions have been dragging on for months now between this government and the Government of Quebec concerning compensation for the harmonization of Quebec's sales tax. Depending on the day, the minister blows hot or cold, and sometimes both. Everything seems to be in place to sign an agreement, give or take a few commas, but the government continues to put up obstacles, to the detriment of Quebeckers.

What is the government waiting for to settle this matter?

Ted Menzies Minister of State (Finance)

Mr. Speaker, I might remind the hon. member, who appears to be fairly new to this file, that harmonization is a provincial decision. The province has asked us to seriously consider it harmonizing its tax. The federal government is in negotiations with the Government of Quebec. Those continue in good faith. We look forward to a successful outcome.

Marc Garneau Westmount—Ville-Marie, QC

Mr. Speaker, I am not sure the government understands what harmonization means.

It is a question of fairness. This has gone on long enough. I would hope that the minister is not playing political games with Quebeckers on such an important issue. I hope that he is not planning on buying Quebeckers with their own money by using the harmonization agreement to sugar-coat the next budget.

Will the minister commit to settling this matter once and for all and stop playing cat and mouse?

Ted Menzies Minister of State (Finance)

Mr. Speaker, we are negotiating in good faith, as I have said. Both parties are negotiating as we speak. There are a number of issues that remain unresolved, and that is disappointing.

We would like to see Quebec have the same opportunity of harmonization that other provinces have had. We look forward to those discussions being completed as soon as they possibly can, and perhaps have a successful outcome.