Thank you, Mr. Chair.
I want to thank the witnesses for summarizing a series of complex issues in such quick time.
My questions are mostly related to the Investment Canada Act, and are particularly for Mr. Wakil.
As you recall, in 2010 the government at the time stopped the takeover of Potash Corporation and committed to making changes to the Investment Canada Act. At that time, the Prime Minister indicated they would provide greater guidance regarding the definition of “net benefit”.
Then in 2012, Minister Paradis announced that Canada would move the threshold from $300 million to $1 billion as the basis for review. The current standard is set at $334 million today.
My question for you, sir, is this. Would it not have been more useful for the investment community if Canada, the Prime Minister, and the Minister of Industry had made these changes through proper study instead of trying to do things on the fly? Do you have any particular comment with respect to this particular instance?