Thank you very much, Madam Chair. I want to thank the witnesses for being here. I'm going to get right to the point.
I'm not normally on this committee either; I'm with international trade. Interestingly enough, this morning we had a topic on foreign direct investment in Canada, and the numbers are shocking. For 2017, the last year for which we have numbers, it was $33.8 billion. To put that into perspective, it's half of what it was in 2015, and just a free fall from what it was in 2007, which was $126.1 billion. Much of this investment really does affect development in your neighbourhood.
We had an interesting witness. His name is Ian McKay. He was the former CEO of the Liberal Party, but now he's working on a new body to help increase foreign direct investment. However, he said “perception is reality”, and I told him I was going to use that quote.
Chief Crey, I appreciate your comments earlier, because I think our indigenous people are not getting a fair rap as far as development is concerned. I remember the cringe when the Prime Minister said in Peterborough, just up from where I am in Oshawa, “We can't shut down the oil sands tomorrow. We need to phase them out.”
The reality out there and the perception has been expressed quite clearly by Douglas Porter, the chief economist at BMO Financial. He said, “People are giving up on Canada as a safe place to invest in natural resources. It's seen as a very hostile environment now.” He also said, “I think we're going to get crushed in the next recession.”
I'd like to ask a practical question, and maybe we could start with you, Chief Crey, and then Chief Boucher. I also noticed Mr. Pinto nodding his head a little earlier.
Is there anything in Bill C-69 that's going to help your communities work to attract more foreign investment or more investment in your communities and get rid of some of the uncertainty and increase the competitiveness of your communities for this type of investment?
If I have some time left over, Mr. Sopuck wanted one minute.