moved for leave to introduce Bill C-648, An Act to amend the Investment Canada Act (enhanced ministerial oversight).
Madam Speaker, I would like to thank my colleague from Windsor West for allowing me to work on this file.
I am so pleased to table this important legislation that would provide substantive improvements to the Investment Canada Act. This bill is the culmination of consultations with stakeholders, experts, academics and labour organizations.
This bill, entitled “an act to amend the Investment Canada Act (enhanced ministerial oversight)”, would, among other things, require the Minister of Industry to consult with representatives of industry and labour, provincial and local authorities and other interested persons in exercising their powers under the Investment Canada Act; lower the threshold for ministerial review to $100 million; invite submissions from interested parties; require sureties from non-Canadian investors; broaden the minister's consideration when evaluating net benefits; eliminate the prohibition against communication of information related to the investment; and extend the timetable for review from 45 to 90 days.
In other words, this bill would strengthen the Investment Canada Act to protect workers and their communities, something the Conservative government and previous Liberal governments have refused to do.
(Motions deemed adopted, bill read the first time and printed)