Bill C-25 (Historical)

An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act

Part 1 amends the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act to, among other things,
(a) reform some aspects of the process for electing directors of certain corporations and cooperatives;
(b) modernize communications between corporations or cooperatives and their shareholders or members;
(c) clarify that corporations and cooperatives are prohibited from issuing share certificates and warrants, in bearer form; and
(d) require certain corporations to place before the shareholders, at every annual meeting, information respecting diversity among directors and the members of senior management.
Part 2 amends the Competition Act to expand the concept of affiliation to a broader range of business organizations.

Canada Business Corporations Act

[Jamie Schmale, Conservative, Haliburton—Kawartha Lakes—Brock, ON]

Mr. Speaker, I will be splitting my time with my colleague from Sarnia—Lambton.

I would like to thank my colleague from Haldimand—Norfolk for leading the official opposition and being our critic on the issue. She is doing a great job and we appreciate everything she has done.

Bill C-25 is an act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act. I would like to begin with a quote from my colleague from Haldimand—Norfolk who said, “...Modernizing the acts addressed in Bill C-25 is a welcome improvement to the federal corporate statute and a reflection of the need to enhance companies' corporate governance practices.” If the minister wants to continue putting forward legislation straight from Conservative budgets, then bring it on, that is more than welcomed. This is the minister's second bill since taking office one year ago and just like his first bill, this one too comes straight from the Conservative 2015 budget.

Canadians, though, need more legislation that would provide positive results for Canadians.

According to the September 17 article published by The Huffington Post with data compiled from the Library of Parliament, the Prime Minister's first few months in office “were the least productive of any government in the House in more than two decades”. Parliament passed 10 bills during the member for Papineau's first nine months. By contrast, the previous government, after winning a majority in 2011, passed 18 pieces of legislation, including nine bills moved in its first 23 days. Former prime minister Jean Chrétien's first nine months in office resulted in 34 bills being given royal assent in 1994 and 38 bills after the 1997 election. Quoting my friend from Durham, “For a government that really talks about real change, and high ambition … there hasn’t been much change. They haven’t done a heck of a lot.”

It gets worse. According to Statistics Canada, as of October 2016, last month, Canada's unemployment rate was 7%. We all agree in the House that is far too high.

The Liberal government is running multi-billion dollar deficits and has yet to create one net full-time job in over a year. Instead of debating other pieces of legislation that could help to get millions of Canadians back to work, we are debating here changes to the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act.

In 2014, our previous government consulted with stakeholders from all across Canada about the modernization of Canada's corporate governance framework. Many of the stakeholders that we met with during the consultation process raised a number of important and complex concerns that they had with the corporate governance structure. I am pleased to see that Liberal members opposite will use legislation that our previous government worked so hard to create. It is a shame though, and I continue to say this, that we have not seen other pieces of legislation to produce positive results for Canadians.

During my year and one month here I have had an opportunity to speak with many constituents and they have raised the same concern no matter where I go, the economy, but specifically jobs, jobs, jobs. This same concern can be found from coast to coast to coast and we as legislators need to take action.

There is a trend developing with the Liberal government. It wants to consult, consult, consult, debate, debate, debate, discuss, discuss, discuss, but Canadians are still waiting for action. Canadians want to get back to work. Canadians want legislation to get them paying their bills and building their families. They are waiting for tangible results. However, it seems that making that decision piece is a bit of an issue for the Liberals.

The government was elected on a promise of change and yet, for many Canadians, they are in a worse position now than they were a year ago. The government promised to help the middle class and it continues to argue that it is helping the middle class, but Canadians who are struggling know that is not true.

The government plans to implement a carbon tax and increase CPP contributions. It is running massive deficits while at the same time taking away tax credits that provided relief for families that need it. After promising just modest deficits during the election, the Liberal government is now running massive deficits with no sign of returning to balance.

Now, the budget has a structural problem. What does that mean going forward? It means program cuts in the future, tax hikes, and at the end of the day, the Liberals are leaving this debt for future generations to pay. Therefore, I do not really see this as helping the middle class.

Our previous government, in contrast, brought Canadians the lowest tax burden in 50 years, and I am proud of that record. We also managed to balance the budget and run a surplus. However, as I have mentioned, the government has burned through that surplus. It is running massive multi-billion dollar deficits, yet we have not seen the creation of one net new full-time job. This is burdening the middle class. This is burdening future generations. This is burdening the youth who will have to pay this bill.

I would like to touch on the background of the bill. I will read from the 2015 budget on page 140.

...the Government will propose amendments to the Canada Business Corporations Act to promote gender diversity among public companies, using the widely recognized “comply or explain” model...Amendments will also be proposed to modernize director election processes and communications with shareholders and to strengthen corporate transparency through an explicit ban on bearer instruments...Amendments to related statutes governing cooperatives and not-for-profit corporations will also be introduced...

For many in the previous Parliament, that quote will sound familiar. This is because, just like the last piece of legislation introduced by the minister, the bill comes straight from the Conservative budget. While I tend to disagree from time to time with members opposite, I must say that I agreed with the minister in his first speech when he said:

Technology also allows transactions to happen quickly across the global, and the global marketplace is more interconnected than ever before. A disruption or discovery in one part of the world can have profound consequences in another.

I appreciate the work that all sides in Parliament are doing. I appreciate the work of members opposite as they work to expand the connectivity of high-speed Internet to rural communities. Many in my area saw the previous government make investments in that. I think we all recognize that there are still gaps in high-speed Internet. Therefore, with the legislation before us, I continue to support improvements in that direction and I appreciate the commitment from the members opposite for continuing the work that we did in the previous Parliament.

[Len Webber, Conservative, Calgary Confederation, AB]

Mr. Speaker, I am a new member. I was elected on October 19 into my first term. I would say that Bill C-473 was before my time. Therefore, I do not have any idea what the reason for that was.

I look forward to progressing forward with this bill that we are discussing here today. Bill C-25 is at the table right now. Let us deal with that. I am happy to support that bill to its fullest.

[Len Webber, Conservative, Calgary Confederation, AB]

Mr. Speaker, I am pleased to be able to rise today to contribute to this debate on Bill C-25.

This fall, the Minister of Innovation, Science and Economic Development introduced Bill C-25, an act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act.

I may be new to the House, but this legislation and the ideas contained within in are not. These ideas were brought forward years ago by the Conservatives. This is an opportunity for me to rise to speak to their efforts.

This bill's history goes back to a House of Commons committee-led statutory review in 2010 back when the Conservatives were in government.

After that, further consultation by our Conservative government took place in 2014 to further advance diversity and equality. Many consultations took place and stakeholders raised many constructive and complex suggestions on a number of corporate governance issues during these consultations. The previous government listened to Canadians on this issue and was making clear progress.

After the previous Conservative government finished its stakeholder consultations, in 2014 a proposal was made, and ultimately announced in the 2015 budget as a move to modernize Canada's corporate governance frameworks.

Not having been a member at that time, I found the following passage from page 140 of the previous Conservative government's 2015 economic action plan. It quite clearly shows that the Conservatives were addressing this issue long before the Liberals copied the work:

...the Government will propose amendments to the CBCA to promote gender diversity among public companies, using the widely recognized “comply or explain” model.... Amendments will also be proposed to modernize director election processes and communications...strengthen corporate transparency through an explicit ban on bearer instruments.... Amendments to related statutes governing cooperatives and not-for-profit corporations will also be introduced...

I will quickly point out that this was the last balanced budget Canada will likely see for some time, as we continue to watch the Liberals spend like drunken sailors, but I digress.

As I mentioned, Bill C-25 comes from the last Conservative budget in 2015.

It is quite clear to me that the current government, without its own ideas, is happy to recycle another Conservative policy. Be it health spending, environmental targets, or gender equality issues, we see the present government time and again recycling sensible positions taken by the previous Conservative government. In fact, the minister is making this a bit of a habit. Bill C-25 is the second piece of legislation tabled by the minister that comes straight from the previous Conservative government's 2015 budget. I only wish he had also emulated the fiscal responsibility of the previous government.

I know that many of my colleagues were part of the previous government before I was elected and I imagine that watching the Liberal government photocopy their work and pass it off as its own must elicit mixed emotions of pride and frustration. I know my Conservative colleagues worked hard to serve Canadians and provide the best policies possible.

Each time the Liberal government continues to do this type of thing, I am reminded of the expression, “imitation is the best form of flattery”. However, the Liberal government promised it could do better, and it has failed. Even so, I am glad to see it is implementing some of the visionary ideas of our past government, but it only serves to highlight the fact it has none of its own.

In any event, let us go back to Bill C-25.

If adopted, Bill C-25 would result in changes to the corporate governance regime for reporting issuers incorporated under the Canada Business Corporations Act. In everyday language, this would mean that the rules for companies to report to the public would be changed. Boards of directors that do not reflect the gender and cultural diversity that is Canada would have to explain why they do not.

With this proposed legislation, there are a number of amendments that cover several key corporate governance matters. They include those related to majority voting, individual voting, annual elections, notice and access, diversity related disclosure, and shareholder proposal filing deadlines.

The one I want to focus on is the proposed comply or explain model. Basically, corporate boards in Canada do not accurately reflect the demographics of the population they serve. While things continue to improve, the pace is much slower than most would like to see.

I am pleased to see that the Liberals are moving forward with the comply or explain model that the previous Conservative government had championed. Would I would like to see corporate boards of directors be more reflective of the Canadian population? Well, who would not?

There are benefits to both the companies and society as a whole. It has been shown that more diverse boards benefit all involved. We see better overall decision-making, better organizational structure, resulting in a better economy for Canadians.

I have sat on many boards, and the more diverse the make-up of the board, the better the ideas brought to the table. This leads to better problem solving, innovative solutions, and better communication of ideas. I would encourage any board to diversify and reflect its customer base. More importantly, diversify to reflect the target customer base.

I did want to mention that the Conservative Party has a proud history when it comes to diversity. It was the Conservative Party that had the first female Prime Minister. It was the Conservative Party that elected the first female MP to the House of Commons. It was the Conservative Party that elected the first Chinese, the first Muslim, the first black, the first Latino, the first Hindu, Pakistani, Japanese, and the first physically disabled MP, and the list goes on.

What I am most proud of with respect to our Conservative history is that it was based on merit, not any forced compliance system. All those who were advanced did it because they earned it and not because it was handed to them on a silver platter. This guiding principle of merit and fairness gave us a proud history. I think it shows that forced compliance does no favours to anyone.

Since the Ontario Securities Commission implemented the comply or explain model two years ago, the number of women on boards has steadily increased to 20%. Yes, this is still too low, but it is an improvement. It is worth noting also that across Canada in the larger companies, women make up an average of 34% of the boards. Again, that is an abysmal number, but it is improving.

Over the past three decades, the participation of women in the Canadian workforce has more than doubled to approximately 47%. Women now earn over half of all Canadian university degrees, and 34.5% of MBAs granted in 2011 were to women. In addition, women represented 47% of students in business and management programs at the master's level in 2010.

The level of progress among Canadian women in just a few decades is impressive. Women are achieving success at unprecedented levels in a variety of sectors, be it law, medicine, and other professions, yet the representation of women on those boards has not followed suit. If we give a woman a fair chance of opportunity, they are quite capable of making the most of it. We have seen it first hand, and I have seen it first hand.

I remember as a kid that practically all doctors were male. In fact, I recall people specifically mentioning that they had a woman doctor, as if it were some sort of novelty or unnatural anomaly.

Children today will grow up in a different world, an opposite world. Today, a full two-thirds of medical school graduates are women. Female doctors will be the norm in the future. Sixty per cent of university graduates are now women. Future boards will have no choice but to increase female participation if they have any hope of filling all the chairs around the table.

As a father of three daughters, this is promising and it is good news. However, women are not waiting for legislation to be passed so they can take their rightful place in society, and nor should they.

Take my family, for example. My late wife Heather was a very successful woman in her own right. She served on many boards and ran numerous large corporate projects in her lifetime. My daughters, much like their mother, are strong-minded, principled, determined leaders in their own right. They have made me proud. They have made us proud with their success, both professional and personal.

Without going into too much, it does bother me that women still encounter a wage gap in Canada today. There are excuses for this. However, excuses are not reasons.

I am grateful for the opportunity to speak to Bill C-25, and I look forward to any questions.

[Marjolaine Boutin-Sweet, NDP, Hochelaga, QC]

Mr. Speaker, it seems that the Conservatives are going to vote in favour of sending Bill C-25 to committee.

I would like to know if they are also going to support Bill C-220, introduced by colleague from Nanaimo—Ladysmith, that seeks to improve gender diversity on corporate boards and among senior management.

A few years ago, in the last Parliament, my colleague Anne-Marie Day introduced a similar bill and the Conservatives voted against it. However, this time, they seem to want to vote in favour of this bill, which also seeks to increase the presence of women on corporate boards.

I would like to know what their position will be on my colleague's bill.

[Karen Vecchio, Conservative, Elgin—Middlesex—London, ON]

Mr. Speaker, I will be splitting my time with the member for Calgary Confederation.

I am pleased to stand to discuss Bill C-25, an act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act. The proposed amendments to the act cover a variety of objectives, but today I would like to focus on the proposal of the bill relating to the increased representation of women, as well as diversity, on corporate boards and in senior management.

Referring to the report that was completed by the Government of Canada advisory board, and provided to the minister of status of women in 2013, there was a new focus put forward to increase the representation of women on Canadian boards, with a national goal of 30% of women by 2019.

The report was titled “Good for Business: a Plan to Promote More Women on Canadian Boards”. In relation to the report, Michael Cooper, the COO from Dream Unlimited Corp., stated in The Globe and Mail in 2014:

Everything we do in this area we do with a mercenary attitude to enhance our own benefits and profitability, and I think that’s what makes it sustainable...I wonder where the other leaders are that they don’t know successful women.

It is important to note that while women now represent nearly half the Canadian workforce, they only hold 20.8% of board positions at Canadian stock index companies.

The program, “It Starts with One – Be Her Champion” was launched in 2014 by the minister of status of women. Leaders in all fields were encouraged to make a difference.

I remember that week quite well. As everyone knows, when we put forward bills and motions, the Government of Canada usually provides a little portfolio. My former boss, Joe Preston, came home to the riding and provided me with the information to do some work around the community. I told Joe that it was great he was doing this for me. I look at him as one of those guys, one of those champions for us.

Therefore, today I want to speak about how men and women together have done things like that. Joe, once he became a member of Parliament, hired a managing partner for his business. Marcy Pearse, from the St. Thomas area, has become one of the most successful Wendy's owners in Canadian history, and has only increased the productivity of the Wendy's corporation in St. Thomas. I know it is her extreme leadership and her great work ethic that has made that a dream for her.

I also look at myself. I had the opportunity of working as an executive assistant. I was always given a very long leash, and I was rarely pulled in for discussions. It is because of people believing in me and giving me that mentorship that today I am able to sit in the House of Commons.

Those are just some things I wanted to discuss because it is really about the grassroots level of what we can do.

Referring back to the report “Good for Business”, there was a summary of recommendations. I will read these recommendations because they should be on the record. These are very important facts. The report was given to the minister of status of women back in 2013. The recommendations are:

The following summary of recommendations is influenced by best practices, from across Canada and internationally, and informed by the experience and expertise of the Advisory Council for Promoting Women on Boards members. Based on these factors, the Council is offering the following recommendations for the Government of Canada.

1. Aspire to 30% over five years (2014-2019) as a reasonable national goal to achieve gender balance, with the longer term goal being gender balance on boards.

This initiative was started in 2014. They goes on to say:

2. The Advisory Council encourages the Government of Canada to: Build on past progress and work towards greater gender balance in its own appointments; Monitor and report on gender diversity in Governor-in-Council (GIC) appointments; Simplify and promote the GIC process; Ensure greater participation in the recruitment of women to leadership positions and GIC appointments by working with Government agencies, including the leadership of Crown Corporations; and Promote networking and mentoring between public and private sector corporations.

3. Institute a “comply or explain” approach for moving publicly traded companies toward an identified goal within published annual reports, with an explanation of results or lack thereof.

4. Promote increased representation of women on boards by mobilizing and working with key stakeholders, including prominent Chairs, Financial Post (FP) 500 companies, national business associations, shareholder groups and advocacy organizations. It would be advantageous and critical to work towards:

Adopting a strong commitment, sound implementation strategies and reporting mechanisms, while maintaining flexible approaches;

Making gender balance on boards a priority to be advanced by board governance through policies, human resources, and board recruitment and nomination committees; and

On any of the boards I have joined or have been part of in the last 10 years, those are the steps we have seen within our own community, in the Elgin—Middlesex—London area. We recognize that the work and diversity of the group brings greater results. It is important to get different ideas and opinions from a diversity of women and men, young and old.

The recommendations continue to state:

Encouraging nomination and recruitment committees and executive search firms to ensure that equal numbers of qualified women and men candidates are presented for consideration for board vacancies.

5. Develop a coordinated pan-Canadian approach by working with provincial and territorial governments.

6. Support the adoption of short- and medium-term goals in the private and public sectors, recognizing that some sectors are further ahead than others.

7. Publicly traded companies should establish and publish, through annual financial statements, two- and five-year goals...

8. Publicly traded companies should report and explain annual results against their goals, reinforced as required by regulatory authorities...

9. Launch a national initiative led by the Government of Canada, to encourage the private sector to attain gender-balanced boards.

10. Develop a sustained and deliberate communications strategy to mobilize all relevant stakeholders

11. Encourage private companies to emulate publicly traded companies and undertake similar measures to increase representation of women on boards.

I know reading 11 points can be quite excruciating, but as I indicated, it is important we get that on record in the House of Commons. The report was done in 2013, and we were very proud to accept it from the advisory board. We saw action taken by our minister of status of women in 2014 with that initiative in mind.

Meanwhile there was an in-depth rational approach to these recommendations, specifically based on the progress of women not only in business and the labour force, but increased performance in levels of success and education and, more specific, in business and management programs.

Unfortunately, when we look at statistics from 2012, we will find some very surprising statistics. Therefore, some of these initiatives are important. We should put that at front of mind.

At one time, only 10.3% of women were on Canadian boards; 15.9% of Fortune 500 companies included zero on 40% of those boards; and 31% of federal GIC appointments.

We know from just sitting in the House of Commons the diversity of many of our female members and their incredible success. I am proud to sit in the House with a female engineer, an orthopaedic pediatric surgeon, a former associate dean from New Brunswick, a family physician, a provincial government whip, a college athletic director, lawyers, wonderful teachers, classically trained pianists, and many more. We have such diversity here, and we can show what great work we can do.

Turning to the necessary need to update the ability for corporations to communicate in other methods is another very important thing. Here as members of Parliament, we can attest about electronic communications in our day-to-day operations, whether it is informing members of a vote, notice of meetings, or providing background information on bills. Electronic communication has become a way of life.

By providing corporations that ability to permit notice and access systems, we are providing them the same opportunities that we have as parliamentarians. We all know we cannot live without our BlackBerrys, our Smartphones, and our iPads. This has become the way of busy individuals. By allowing the electronic communication, it will allow us, in a more active way, to communicate with our memberships, those corporations, and allow people to know what is going on. It is just a better way of communicating.

With over 270,000 federally incorporated corporations, this bill and the studies that have been completed over the past several years, these amendments are necessary. The modernization of Canada's federal corporate governance, as announced in budget 2015, is necessary. Key stakeholders are onside with Bill C-25, including the Canadian Coalition for Good Governance and the Canadian Board Diversity Council.

I thank the Minister of Innovation, Science and Economic Development for introducing Bill C-25, something many parliamentarians will recognize from our previous government.

I support this bill and support the efforts in it to provide a Canadian federal framework that is up to date and will provide support for long-term investments and, overall, contribute to Canada's economic growth. The bill would provide the tools to ensure that Canada would be aligned internationally with the best practices, including the report for good business.

The House resumed from October 26 consideration of the motion that Bill C-25, An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act, be read the second time and referred to a committee.

Business of the House

[Kevin Lamoureux, Liberal, Parliamentary Secretary to the Leader of the Government in the House of Commons]

Mr. Speaker, this afternoon we will continue second reading debate of Bill C-18, the Rouge National Urban Park legislation. The other bills on the agenda for today and tomorrow will be Bill C-25, the business framework legislation, and Bill C-30 regarding CETA. It is my hope that we can complete second reading debate on all these important bills by tomorrow afternoon if at all possible.

Next week, we will commence debate at report stage and third reading of Bill C-26 concerning the Canada pension plan. We will call this bill on Monday, Tuesday, and Wednesday.

Finally, next Thursday, December 1 shall be the last allotted day for this supply cycle.

Gender Equality Week Act

[Anju Dhillon, Liberal, Parliamentary Secretary for Status of Women]

Mr. Speaker, it is a pleasure to speak today to Bill C-309, An Act to Establish Gender Equality Week. I would like to begin by thanking the member for Mississauga—Lakeshore for introducing Bill C-309, which would designate a gender equality week in Canada.

The bill would recognize aspects of Canadian society where women have not yet achieved equality, promote awareness of these inequalities, and educate Canadians on opportunities to advance these issues. Anything we can do as a society to increase opportunities for women and girls and bring gender parity closer to reality makes sense.

Why is more action needed to advance equality? Consider some of the challenges our country still faces. Women continue to advance in many sectors of the economy, yet a woman working full-time makes 73.5¢ for every dollar a man makes. A record number of 88 women were elected to Parliament in 2015. This represents an increase of only 1% from the last election in 2011, with women now holding 26% of the seats here, but we have much more work to do to achieve gender parity. The more recent statistics from the Canadian Board Diversity Council 2015 report card indicates that women hold 19.5% of board seats at Fortune 500 companies.

These persistent inequalities underscore how difficult it is to make change happen. Therefore, as we prepare to mark next year the 150 years since our nation's founding, we need to stay focused on the fact that the fight for equality is far from over. Designating a gender equality week would serve to remind everyone of this very, very important fact.

Our support for Bill C-309 also underscores the government's commitment to promoting gender equality and building an inclusive and prosperous society. I am proud to say that the Prime Minister is committed to leading by example on this priority. He appointed the first gender-balanced cabinet in the history of Canada and the first-ever minister fully dedicated to gender equality, the Minister of Status of Women.

The Prime Minister's commitment has fuelled the dialogue on equality and feminism across the country and around the world. We are adopting strong measures to promote equality. Gender-based violence continues to be a barrier to women and girls achieving their full potential, and some groups of Canadian women are more at risk.

In order to come up with solutions to the unacceptable level of violence, we launched a national inquiry into missing and murdered indigenous women and girls. The Minister of Status of Women also brought together key stakeholders nationwide to develop a federal strategy addressing gender-based violence.

During the consultations held in Canada last summer, we gathered the views of gender diverse Canadians. Many told personal stories of the violence and discrimination they endure.

Our government is committed to recognizing the rights of gender diverse Canadians and eliminating the barriers that can leave them vulnerable to violence and economic marginalization. We are committed to advancing explicit protections related to gender identity and gender expression within the Canadian Human Rights Act. Gender equality week would also serve to highlight the issues faced by transgender and gender non-conforming Canadians.

Our government also recognizes that increasing women's participation in leadership and decision-making roles is critical to building a healthy and inclusive society. For example, we have put in place a new merit-based, open, and transparent approach to selecting high-quality candidates for some 4,000 governor in council and ministerial appointments to commissions, boards, crown corporations, agencies, and tribunals across the country.

Last October, the Minister of Status of Women announced funding of over $8 million for approximately 45 community organizations to carry out a dozen projects. These projects will foster greater inclusion and increase women's participation and leadership in the democratic and public life of the country.

Last September, our government introduced Bill C-25 to update in various ways the federal framework legislation on corporate governance. The main objective is to better target the representation of women on corporate boards and in senior management by using the comply or explain approach.

In November, as part of the government's plan to advance the middle class, the Minister of Finance stated that budget 2017 and all subsequent budgets will be subject to more rigorous analysis by carrying out and publishing a gender-based analysis of the impact of budget measures. That is a positive step that will result in inclusive budgets for Canada.

To help diminish the gender wage gap, the government is currently developing a framework on early learning and child care, promoting a Canadian poverty reduction strategy, launching the new Canada child benefit, and enhancing the use of gender-based analysis to ensure that any decisions concerning policy, programs, and legislation will advance gender equality.

Here are some further actions we have taken that will support many women in our country.

Budget 2016 announced changes to old age security and an increase in the guaranteed income supplement, a monthly non-taxable benefit for pension recipients who have a low income. We know that low-income seniors are most likely to be women living alone. We have also introduced legislation to enhance the Canada pension plan, which aims to reduce the share of families at risk of not having enough for retirement. It also includes enhancements to disability and survivor benefits. We believe these two actions in particular will improve the situation of Canadian families, help women, and get us closer to gender equality.

We are taking these bold actions for one simple reason: Canadians believe in equality, a fact that I believe is borne out by the debate we are having today on Bill C-309.

In October we celebrated Women's History Month, which includes important commemorative dates such as International Day of the Girl and Persons Day. To ensure that gender equality week is recognized and celebrated, a discussion about when such a week should occur would be beneficial. However, the reality is that we cannot rest as a society until all women and girls have equal opportunities to succeed and reach their full potential.

That is why I am pleased to support the bill before the House today, which would establish gender equality week in Canada.

That is why we are supporting this bill.

Business of the House

[Bardish Chagger, Liberal, Leader of the Government in the House of Commons and Minister of Small Business and Tourism]

Mr. Speaker, this afternoon, we will continue our debate at second reading of Bill C-26 on the Canada pension plan.

Tomorrow, we will resume debate on Bill C-16 on gender identity. If time permits, we will also examine Bill C-25, the business framework bill.

On Monday, I will call Bill C-30, the CETA implementation legislation, for consideration at second reading. The bill will be on the agenda for Monday, Tuesday, and Wednesday. It is my hope that this bill will be referred to committee on Wednesday evening.

On Thursday, we will consider second reading of Bill C-23 respecting pre-clearance.

Next Friday, I will call Bill C-18, the Rouge national park legislation, for second reading debate.

[Bardish Chagger, Liberal, Leader of the Government in the House of Commons and Minister of Small Business and Tourism]

Mr. Speaker, this afternoon we will continue to debate the Conservative Party motion.

Tomorrow, we will resume debate on Bill C-26, on the Canada pension plan.

Next week, as the hon. member said, we will be working hard in our constituencies and attending Remembrance Day ceremonies on Friday to collectively stand in honour of all who have fallen in the service of Canada.

When we return on Monday, November 14, the House will then have the fifth day of second reading debate on Bill C-26, the CPP enhancement bill. On Tuesday, the House will also have the fifth day of second reading debate on Bill C-29, the second budget implementation bill.

On Wednesday, the House will consider Bill C-16, the gender identity bill, at report stage, and hopefully at third reading. On Thursday, the House will debate Bill C-25, the business framework bill, at second reading.

[Mark Schaan]

Maybe I can speak to that, just from the policy perspective.

Following the “Compete to Win” Red Wilson panel, substantive changes were made to the Competition Act in 2009. Then there's actually a bill currently before the House, Bill C-25, that makes a small amendment to the act to change and clarify the definition of “affiliate”. My shop, in conjunction with our colleagues at the bureau, continue to analyze and assess the continued utility and functioning of the act to ensure that it's meeting its policy objective. Even in the wake of the 2009 substantive changes, where a significant number of the reforms recommended to the act were made, we continued to look at new changes that may need to be made, which resulted in the act that's currently before the House.

Canada Business Corporations Act

[Alex Nuttall, Conservative, Barrie—Springwater—Oro-Medonte, ON]

Madam Speaker, I rise today to speak to Bill C-25.

I do not believe that there is a person in this room who can effectively argue that this bill, in any way, hurts our country. I am the father of two, a three-year-old son and a one-year-old daughter. I want an even playing field for my children so that they know that if they work hard, if they make sensible choices, and if they take calculated risks, they can succeed without concerns about gender, without concerns about race, and without concerns about ethnicity.

What I fail to understand, though, is why Bill C-25 does not propose more. Why is it on one subject with all that is going on around us? It is difficult to understand why there is no original work coming out of the office of the Minister of Innovation, Science and Economic Development.

I do not think the minister understands the gravity of the jobs market Canadian families are fighting in to make ends meet. If he did, we would not be discussing changes on disclosure today without widespread reforms to make Canadian employers more competitive and to create jobs for Canadians looking for new or better jobs. This affects all women, all men, and all children who will soon be in the workforce.

Now I know that the minister will argue that another accountant filling out another line on another tax form so that another bureaucrat in Ottawa can create another spreadsheet is an intensely important issue that needs to be prioritized above all else, but I am sorry, I cannot.

We are a year into the mandate of the government, and so far, the Minister of Innovation, Science and Economic Development has failed to introduce one piece of legislation regarding innovation. So far he has tabled two bills, the first regarding copyrighted works and the second regarding the disclosure of the makeup of boards. I do not believe that these bills are unworthy of presentation in any way. That is not what I am saying.

After all, it was work done by the former Conservative government that created these bills in the first place. What Liberal insider in what ivory tower decided that the most pressing issue to deal with right now is not the estimated 52,000 oil and gas workers laid off since last year and unable to pay their bills? What Liberal insider decided that the priority is not finding a way to support the more than 40,000 manufacturing jobs lost in the last year? What Liberal insider decided that the priority is to go to a roomful of work by the previous government, change the colour of the binder it was written in, and put this on the floor of Parliament, without a single mention of the struggling families at home? That is if they can get a home, after the government instituted new borrowing rules that make it even more difficult for first-time home buyers to purchase a coveted first home.

I get it. When the Prime Minister is reducing the average Canadian worker's take-home pay with new payroll taxes, when the Prime Minister is eliminating tax credits for children for sports and culture, when the Prime Minister is removing opportunities for Canadians to save money tax free through tax-free savings accounts, and when the Prime Minister is introducing a carbon tax that will take $2,500 out of every single Canadian's pocket, the finance minister needed to change the qualifications for mortgages to higher thresholds.

Why? It is because Canadians have less take-home money in their pockets to afford their mortgages. The government is setting up a permanent tax office in the pockets of Canadians. Please tell me how this helps Canadian men or women break the cycle of poverty. It is another government-created solution to another government-created problem.

Canadians only have take-home pay if they have jobs. That seems to be a pretty big issue right now, and I think people at home would agree.

We have fewer jobs in two of the largest sectors of our economy and an affordability problem in housing at the same time. As if it is some comedy of failures we would see in a Shakespearean play, the government does not stop with taking money people are earning now; they run up Goliath-sized deficits so they can take more of their money tomorrow. Yet we are discussing changes to corporate disclosure laws and rules without any mention of the Canadian economy and how it is failing women and men of all ages.

Not only has the number of manufacturing jobs been reduced by over 40,000, the number of jobs available for youth aged 15-24 is down by a whopping 48,000 year over year, according to Statistics Canada. These results are blinding when compared with the Liberal promises that outlined an increase in youth jobs by 40,000 this year alone. “We will invest to create more jobs and better opportunities for young Canadians” is literally a portion of the Liberal platform.

How is it that the current government can contribute only two bills in 12 months, from the Minister of Innovation, Science and Economic Development, and with those bills fail to consider the daily fight to make ends meet for Canadian workers? Perhaps I am not effectively communicating the state of the economy for Canadian workers. Maybe the government is inclined to listen only to international elites on the state of the economy the Liberal government presides over. That is just fine.

In October, the International Monetary Fund downgraded Canada's real GDP growth to 1.1% from 1.3%. It makes total sense. Fewer Canadians working plus fewer Canadians buying houses and services equals less Canadian wealth and less Canadian GDP. The problem is that the IMF, the International Monetary Fund, has also downgraded economic growth for 2017. Instead of growth at 2.2%, the International Monetary Fund has reduced the outlook to 2% flat. Following this downgrade, the Bank of Canada has followed suit and has reduced our current year's outlook for economic growth from 1.4% to 1.2% and 2017's economic outlook from 2.1% to 1.9%.

Yet the Minister of Innovation, Science and Economic Development is silent, some would say MIA, missing in action, and without a single competent piece of legislation to support our struggling economy, unless changing the rules of disclosure and copyright will spur the economic growth we have been looking for in this country. Again, I am not against the bills that were tabled. I am merely highlighting how ineffective and lacking the government's approach to our current economic woes has been and continues to be.

I believe that governments are elected to institute a plan, one that will hopefully improve the lives of Canadians. After our government determines what that plan is and the best way to achieve it, each and every piece of legislation should work toward achieving that goal. Maybe these two pieces of legislation that have been tabled and moved by the federal government this year will do that and help the government achieve these goals. Unfortunately, there has been no plan communicated or brought forward before this House to validate them against.

After a full year in office, the Liberals have failed to provide a copy of their plan to underpin the Canadian economy, to spur innovation and reform in struggling sectors, or to tell our hard-working Canadian families what it is they are trying to achieve on our behalf. If Canadians believe these folks in government, and if they believe the Minister of Innovation, Science and Economic Development, they will believe that the Liberal Party has a plan that is really good, really big, really fantastic.

On February 1, the Minister of Innovation, Science and Economic Development told the House that the government had a plan. On February 3,18, 23, and 25, the minister said that the government had a plan. On March 7 and 8, he said that they had a plan. The only problem is that his government's budget just three weeks later, in March, said that the Liberals would get a plan together at some point in the next two years.

I have said before in this House, and I will say again today, that the government does not have a plan. Prime Minister Trudeau does not have a plan for Canada to succeed, and the Minister of Innovation, Science and Economic Development does not have a plan to spur innovation or job growth or to create an environment in which Canadian businesses and Canadian workers can succeed. They have a plan—

[Patty Hajdu, Liberal, Minister of Status of Women]

Madam Speaker, I am pleased to rise to speak in support of Bill C-25, an act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act.

Our government understands that Canada needs all the available talent to stimulate innovation and economic prosperity. To ensure that this happens, we must engage people of different genders, with different backgrounds, skills, experience, and ideas to manage all segments of the economy.

We see diversity as a source of Canada's strength. With the bill, we are calling on all leaders and decision-makers, including shareholders, to promote diversity and inclusion.

In today's global economy, it is to our economic benefit that our workforce reflects our rich diversity. Ensuring we have diversity in all aspects of our society contributes to better performance and innovative thinking, which affects the economic security of our communities and our country. We need leadership and commitment not only in government but also in the private sector to instill diversity and inclusion as core to good corporate governance.

Bill C-25 promotes diversity in leadership roles, something that is integral to creating environments where a diversity of voices make decisions that are of consequence to all of us. Research shows that leaders who embrace diversity in their organizations and give diverse voices equal exposure are more likely to have employees contribute to their full innovative potential. Change can happen. For example, the Canadian Board Diversity Council, the leading Canadian organization advancing diversity on Canada's boards, in order to help drive increased shareholder value, established diversity 50.

Diversity 50 is designed to help directors identify diverse board-ready candidates beyond their own networks. The initiative expands the definition of experience, expertise, education, geography, and age to include such considerations as women, visible minorities, aboriginal peoples, and people with disabilities. There are 13 CEOs from the telecommunications, energy, financial, and media sectors that support diversity 50.

Organizations such as Catalyst Canada have also created voluntary measures, such as the catalyst accord, which, in 2012, called on Canadian corporations to join and increase the overall proposal of the Financial Post's FP500 board seats held by women to 25% by 2017.

Canada's 30% club, whose membership comprises leading directors and executive officers, established an aspirational goal of 30% female representation on boards by 2019 and works with Catalyst on the catalyst accord. These are important targets that I am certain corporate Canada can reach, not only because we have the talent but because meeting these targets will drive stronger companies, better decision-making, and ultimately, a richer economy.

Another important dimension of the bill complements these measures by further facilitating the conversation between shareholders and corporations on how they are pursuing diversity in their leadership. The bill would also require distributing corporations and co-operatives to hold annual elections. This not only supports accountability but can provide opportunities for diversity on boards. Women make up 48% of the workforce and earn half of the university degrees, yet the latest figures show that women hold 13.1% of all Canadian board seats, 19.1% of seats on the boards of the FP500 companies, and 20.8% of seats on the boards of Standard & Poor's TSX 60 companies.

If Canada's workforce and economy are to remain modern and competitive internationally, we need to tap our full potential. We need to encourage change to ensure that the full diversity of Canada is represented in the business world. Bill C-25 would require Canada Business Corporations Act corporations to disclose diversity information such as the composition of their boards and policies to their shareholders, or to explain why they do not have diversity policies. The bill would also require corporations to provide diversity information to the director of Corporations Canada, so that progress can be monitored.

With the introduction of Bill C-25, it is important that boards and recruiting committees review the diversity of their boards and senior management and consider more inclusive practices. When businesses expand their pool of candidates, they can find new backgrounds, skills, and experiences that may have been overlooked in the past. This is true at the senior level and down through the organization.

I am honoured to have the opportunity to participate in the debate on Bill C-25 during Women's History Month. In October, we celebrate the women who shaped Canada's history.

It is an opportunity to honour their courage, sacrifices, and leadership. Our government is determined to eliminate the problem of under-representation of women and other groups at the highest levels of corporate management.

The amendments in Bill C-25 would allow government and businesses, working together, to promote diversity and put innovation at the core of their business strategy. It is essential that corporations demonstrate progressive leadership and create a culture of inclusivity and innovation.

By recognizing diversity as a strength and ensuring we have the full spectrum of ideas at the table, Canada stands to benefit with firms that are increasingly innovative and increasingly financially successful.

[Greg Fergus, Liberal, Hull—Aylmer, QC]

Madam Speaker, I am grateful for the opportunity I have had over the last year to work with the hon. member for Barrie—Springwater—Oro-Medonte on the industry committee. It has been a pleasure to work with him.

In regard to the bill, we are very much looking forward to having it not only introduced but brought through the legislative process and passed.

A number of good intention bills were suggested by the previous government. However, it never followed through in getting them through the legislative process, although it was very much aware of the parliamentary calendar that was in place. The big difference is that where there is good legislation, no matter where it originates, this government is committed to seeing that legislation pass. Therefore, I am very much looking forward to Bill C-25 passing, and addressing the issue of greater diversity on boards.

With respect to the other issues that the hon. member raised, I am afraid those are perhaps issues that are not necessarily germane to the debate we are having today on this bill. Therefore, I am certain the hon. member will allow me some leeway to take his questions under advisement to give proper reflection to them.

[Tracey Ramsey, NDP, Essex, ON]

Madam Speaker, the parliamentary secretary brought up Women's History Month. That is incredibly important when we look at this legislation. As a women who serves in the House and someone who has dedicated themselves to gender equality, I appreciate the spirit of the bill. However, as a feminist, I see weak language that would do little to see real change for women in the way that I think is the intent of the bill.

Will the government agree to the NDP amendment to have a five-year review clause inserted into Bill C-25 to ensure Canada keeps up to date on corporate and shareholder best practices, as well as to review the comply or explain, and to ensure that it has the intended affect on board gender diversity, and to show a true commitment to the women of the House and to feminists across our country?