That sounds good. Thank you.
I am pleased to put forward amendments to division 5 of part 5 of this bill. As you all know, as it is currently written, this provision grants individual cabinet ministers the extraordinary power to exempt hand-picked individuals or entities from any federal law, with the exception of the Criminal Code. This is an immense concentration of power. It is clear that this concern has been widespread and consistent, and I judge that by the number of petitions, emails, letters, calls and messages I have received.
The amendments that I am moving today seek to strike a balance among innovation, accountability and democratic safeguards. It preserves the ability to create regulatory sandboxes that will support innovation in the clean-tech and fintech sectors.
Specifically, the amendments introduce seven key protections: first, a mandatory 30-day consultation prior to making the exemption; second, equal rules that apply to all participants within the sector, not only the hand-picked companies; third, dual approval by both a cabinet minister and the President of the Treasury Board; fourth, mandatory public consultation of voters within 30 days; fifth, a full report to Parliament within 90 days explaining the rationale and assessing whether permanent legislative changes are warranted; sixth, a requirement that ministers appear before committee when requested to explain the sandbox; and seventh, clear limits on what can never be exempted, including foundational statutes such as the Conflict of Interest Act, the Access to Information Act, the Auditor General Act and other core accountability, safety and national interest laws.
While I would have preferred that this provision be removed from the budget implementation act entirely, given the importance of this provision, I believe that these amendments present a balanced and responsible path forward. They meet the urgency of this moment while preserving the accountability, transparency and democratic standards Canadians expect.
I trust that my colleagues here today can see that these amendments are being presented in good faith, that they are thoughtful and that they are substantive changes that strengthen this bill. They offer us an opportunity to show Canadians—the Canadians we serve—that we can work together responsibly and constructively in the best interests of our country.