Evidence of meeting #31 for Finance in the 39th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was manitoba.
Conservative
Rick Dykstra Conservative St. Catharines, ON
I have a quick question for Paul.
Developing and building the centre here would obviously, from a local perspective, be very positive. From a federal perspective, I'm interested in finding out how spending the $3.2 million here is going to be an advantage for the rest of the country.
Lourdéon Wellness Centre
I think the main advantage would be to demonstrate leadership with respect to a new approach in health, nationally and provincially. In other words, the advantage would be putting the focus on prevention rather than on acute care.
This could be an example for Canada as a whole. Moreover, it is something that will fulfil the committee's goals, which are primarily to ensure that people are in good health, in order to improve productivity and efficiency in general and also to ensure that out system can operate on the budgets we have, without excessive spending. In other words, our project is an example of investing in health to save in the long term, in my opinion. Moreover, if—
Conservative
The Chair Conservative Brian Pallister
I'm sorry, but we are out of time.
To conclude, we'll have Mr. Tweed.
Conservative
Merv Tweed Conservative Brandon—Souris, MB
Thank you, Mr. Chairman. I'll be very brief. I have two questions. One is for Mr. Bicknell.
I would like to ask you this in light of the Crocus concerns that are in the province of Manitoba. You're suggesting that in order to enhance labour-sponsored funds, RSP limits be increased. Do you think that has become a detriment, or has that become the story that's told across Canada to demonstrate why people shouldn't take such a high risk? You said it's impacted your business to some degree.
Vice-President, ENSIS Growth Fund Inc.
In Manitoba--and my statistics are for Manitoba--it has affected our ability to raise capital. That's one of the drivers for expanding the market available to us through a larger ticket and attracting a higher net worth individual who would be more accustomed and more aware and more able to bear the risk profile of a venture capital investment.
With regard to the rest of the country, my colleagues have presented to the committee. The other provincial jurisdictions feel that the Crocus conclusion-- it's not yet concluded, but the outcome thus far--has been isolated within the industry. It was a governance management issue. For many of the funds, like our own, the managers are separate entities. They're not employees of the fund, so the fund attracts a professional venture capital manager.
The provincial Government of Manitoba has amended provincial legislation twice. We have provincially registered LSIFs and therefore we now have legislation in Manitoba that demands that the class A shareholder, as the individual who provides the capital, have a majority representation on the board of directors of the fund.
Conservative
Merv Tweed Conservative Brandon—Souris, MB
Thank you.
Mr. Ledohowski, thank you again for your hospitality.
You mentioned in your comments that you own and operate businesses in the United States. Is there one thing you would recommend to the committee as a benefit to Canadian business, since you have worked on both sides of the border?
President and Chief Executive Officer, Canad Inns
Yes. As I listen to all these presentations here, one thing that comes to mind is that to be able to afford all these things, we must have a healthy economy, and we must make sure governments don't waste money so that we can provide the basis for that.
Yes, I'm finding in our limited experience that it is a little bit easier to do business there, and that the environment's a little bit better.
Again, I go back to the idea that regardless of which side of the equation we hear with regard to day care, whether private, public, whatever, these things all cost money. There are two things that I think are imperative to being able to fund these issues, regardless of where you sit. One of them is government efficiency. The government sets the tone. For us, the private sector, we need to be able to provide the funds so some of these things can be done.
But yes, there does seem to be a bit of a difference.
Conservative
Conservative
Merv Tweed Conservative Brandon—Souris, MB
Yes, I'll be very brief.
In your experience, how does the Canadian health care system compare to paying for health in the United States? Cost versus service.
President and Chief Executive Officer, Canad Inns
I think we have an excellent health care system once you're into it. There's a problem with access. I've had some personal experience with my mother, etc., and I've been very satisfied here, but there is a problem with access and queueing, and that's going to have to be addressed, whether by privatization or through some balancing of something.
But the system's excellent once you're in it.
Conservative
The Chair Conservative Brian Pallister
Thank you very much.
Thank you to all of our panellists this morning. These have been fine presentations, and I hope you'll continue to do the good work you're doing.
Before we leave, I would like to conclude also by telling you that this past week we've travelled 10,000 miles by air. We've spent two dozen hours hearing presentations, and this is just the tip of the iceberg in this process.
We couldn't have done that work without the support of our staff, our clerks, our research people, translation people, the sound people, and so on, who've travelled with us, and the logistics people who've organized these things. I know that as a committee we want to offer our sincere thanks to them.
I would like to express special thanks to you for taking the time to be here and for your presentations, which were very good, and for the briefs you've submitted. I assure you that those that needed translation--we can't distribute them, of course, until they have been translated--will be translated. Also, there are recordings of the proceedings that will be reviewed thereafter, and so this process will continue. I think it's an open one.
I'm honoured you could be here. I'm honoured that Portage la Prairie could host one of our meetings.
I will especially thank the committee members for their diligent work throughout this process. It is a tremendous effort. This is the hardest-working, most effective committee, bar none, in the House of Commons. It is.
Committee members, I hope you have a wonderful weekend with your families at your homes, and I look forward to seeing you a week Monday, at 10 o'clock. We'll be back at it. All the best to you as well this weekend, and always. Thank you for being here.
We are adjourned.