Evidence of meeting #51 for Government Operations and Estimates in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was bdc.
A video is available from Parliament.
6:30 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Groceries. Is that what you said?
6:30 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
Yes. Do you know what—
6:30 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Is that on a weekly basis?
6:30 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
For a year. What would it cost an average family for a year?
February 8th, 2023 / 6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
I would say $150 per week or $200 per week by 52.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
It's said to be $16,000 for this year for a Canadian family.
While they're looking at this record-high food inflation, they're seeing things like exorbitant amounts of money, $104 million, paid in bonuses and raises over the last two years. They're seeing things like these fees for chauffers to be flown across the country. They're seeing these wild event planning expenses that they don't see value for. Your employees reflected that in some of their comments.
How would you justify spending half a year's worth of groceries on the lowest amount that I mentioned, which was to fly your driver across the country? How would you justify that to Canadians?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Especially with the event organized for employees, we felt that it was the right moment to invest in bringing our colleagues together. First—
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
I heard your answer about that. However, specifically in the context of what groceries cost a Canadian family in a year and the necessity to have the best value for money to fly your driver across the country, is that justifiable to Canadians?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Again, this was a decision that was taken in a very serious manner for specific reasons. As I answered your colleague, we are highly responsible. I'm in front of you, saying it's my hope that we will not do this again.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
I would say it's the expectation of most Canadians who are familiar with it that it will not happen again.
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
I hear you.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
BDC is the Business Development Bank of Canada. Is that correct?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Yes.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
BDC is the expert in business development. Is that correct?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
We have part of the team that does business development, especially our teams in the field working directly with clients.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
Why did you need a $2.1-million contract for a business development case for an organization that bills itself as one that offers business development expertise?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
What we did during the strategic review was not necessarily to think about the go-to market strategy for specific clients, but what the pandemic changed over two years and about the future of the SME ecosystem in Canada. It was not specifically around business development. It was to identify what the key pillars were in which we would invest.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
I have just under a minute left.
You'll have seen stories in media reporting on McKinsey's involvement in advising Purdue Pharma to supercharge the opioid crisis, in corruption scandals in South Africa and France, and in helping the government of Saudi Arabia track down and punish dissidents. That's to name only a few.
Knowing that now, going forward, do you view McKinsey as an ethical company? Will the BDC continue to do business with McKinsey now, knowing these facts?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Going forward, as we did in the past, we will carefully respect the process around procurement with the rules we have.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
Is McKinsey an ethical company, ma'am?
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
Again, I'm in front of you to say that we've respected the procurement process with all of the rules.
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
I'm not asking about the procurement process.
I'm asking you personally, ma'am—as someone who's here to be accountable to Canadians—if you think McKinsey is an ethical company. It's a yes-or-no question.
6:35 p.m.
President and Chief Executive Officer, Business Development Bank of Canada
I will say again that I'm in front of you to say that we did respect—
6:35 p.m.
Conservative
Michael Barrett Conservative Leeds—Grenville—Thousand Islands and Rideau Lakes, ON
Respectfully, ma'am, you're here to answer questions.
6:35 p.m.
Conservative
The Chair Conservative Kelly McCauley
Could we just have a very quick question? Then we'll finish up and go to Mr. Jowhari.