Evidence of meeting #62 for Industry, Science and Technology in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was million.

A video is available from Parliament.

On the agenda

MPs speaking

Also speaking

Kelly Gillis  Associate Deputy Minister, Department of Industry
John Knubley  Deputy Minister, Department of Industry

10:15 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

We're very committed to the Canadian Space Agency. In the first budget we increased the amount by $379 million, and in the most recent budget we added another $80.9 million. We've established a new advisory committee to provide long-term direction for the Canadian Space Agency. We're currently in the process of developing a long-term space strategy. It's about supporting the International Space Station and deep space exploration, but it's also about focusing in areas of technology that can benefit us here on earth as well. This is an area of priority for us.

I think the numbers you're referring to, the decrease in funding, when you're looking at the estimates, is mainly related to the RADARSAT constellation mission. It's a profiling issue. As you said, it's a cash flow issue. By no means does it reflect a decrease in our funding for the Canadian Space Agency. It's just the way it's being profiled. I think that's what you see the delta as.

With regard to broadband, we launched connect to innovate, a program of $500 million. It was very well received, and it was oversubscribed, because the deadline was April 12. We're now evaluating project initiatives and we're really excited about getting those out to some of the rural and remote communities that will benefit from our commitment to providing high-speed Internet access to some of those communities.

10:15 a.m.

Liberal

Lloyd Longfield Liberal Guelph, ON

Thank you very much.

10:15 a.m.

Liberal

The Chair Liberal Dan Ruimy

Thank you.

We're going to move to Mr. Lobb.

10:15 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

Thank you, Minister, for attending today.

The first question I hadn't planned on asking, but it came out of your comments in your speech, and it's right in the economic outlook. It talks about the economic growth rate for 2017, and these are your words:

This pace of growth did not happen by chance. Our government is making the smart and responsible investments that have resulted in better jobs and opportunities for all Canadians.

In those comments—and I don't want to twist your words—are you trying to say that it is your government's investments that have spurred this economic growth we're seeing in Canada right now?

10:15 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

The comment I was making is that government plays a role in economic growth by creating the conditions for businesses and people to succeed, and we put forward a plan that's creating those positive conditions for growth.

10:15 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

Now it's interesting, because if you read The Canadian Business Journalor other journals, you find that comments on the economic growth taking place right now do not bear this out. You may be surprised, or not, to see that not one line is in there about the Liberal government's investments making the economy happen. What you will hear is that it's the cheap Canadian dollar, the strong U.S. economy, household and public-sector spending. Nowhere in there does it say anything about any of the investments.

All I'm trying to say is that when we're putting out documents like this we need to maybe have some reality about what is spurring the Canadian economy at this time. If it is your government's position that it's only you and solely you, then I guess you'll take responsibility for slower growth next year. We'll move on from that.

The next one I want to ask you about is the decision that came from your department earlier in the year in regard to the takeover of Retirement Concepts by Cedar Tree Investments. There are many, many Canadians, particularly in British Columbia, who have serious apprehensions about the process, and they have some serious apprehensions about Anbang Insurance. I know you've made comments about this in the House of Commons and perhaps other places. Is it your position that this is a transparent process under the Investment Canada Act?

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

Yes, it is. The Investment Canada Act is designed to look at net economic benefits. There's also a national security provision to it, and I work very closely with the Minister of Public Safety when we look at national security provisions. With regard to Anbang and Cedar Tree, we did our due diligence; we did our homework. We made sure that it was an overall net economic benefit for Canadians. Once we made that determination, we released that information to the public.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

I would say that if any member of Parliament—on this side, on that side—wanted to kick the tires and make sure what you told us is exactly right—I'm sure it is—how would any Liberal, Conservative, NDP members of Parliament have an opportunity to kick the tires and make sure that Anbang is not a state-owned enterprise? How would a member of Parliament do that?

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

Anbang is a privately owned global insurance company with over 30,000 employees. It is one of the leading comprehensive health insurance groups in China.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

I understand that, but how would I find out for myself?

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

There's legislation. We follow the legislation. We make sure that the process is properly followed, and we do the analysis. More important, if you look at this particular transaction, you'll see that Cedar Tree now has additional assets to provide better services and more resources to its clientele.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

The answer is actually there is no opportunity for members of Parliament to kick the tires and make sure. I've written—

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

We're dealing with that right now.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

No, we're not. What we are doing is just talking. If you actually wanted to kick the tires and see whether Industry Canada officials travelled to China to make the decision, to interview any of the affected parties—

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

We do our due diligence. As I said, we make sure we follow that process.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

Did anybody from Industry Canada go to China to meet with Anbang Insurance?

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

Why would we need to go to China?

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

Probably to meet with Anbang Insurance and do your due diligence and go through the corporate records to make sure that no money trails lead to the government.

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

No, if I may, on that—

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

I'm guessing—

If I may, Chair, he's asking a question—

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

I'm guessing the answer is nobody went.

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

No, the idea is you don't have to physically go to the country to do an analysis of a company. They, first of all, come to us. They're making investments in Canada so naturally they would approach us. We would sit down and do our due diligence with them. You don't have to physically go to the country that's making the investment to do the due diligence.

10:20 a.m.

Conservative

Ben Lobb Conservative Huron—Bruce, ON

I obviously understand that, but—

10:20 a.m.

Liberal

Navdeep Bains Liberal Mississauga—Malton, ON

I just want to make it clear that we did engage Anbang.

10:20 a.m.

Liberal

The Chair Liberal Dan Ruimy

Unfortunately, our time is up on that. Thank you very much.

We're going to move to Mr. Jowhari.