Evidence of meeting #148 for Industry, Science and Technology in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was mastercard.
A recording is available from Parliament.
Liberal
The Chair Liberal Joël Lightbound
Since the amendment has carried, let's get back to the debate on the motion as amended.
Mr. Badawey, you have the floor.
Liberal
Vance Badawey Liberal Niagara Centre, ON
Thank you, Mr. Chair.
Mr. Chair, I've been involved in a lot of communication dialogue with the development of the economy, both with the country and, more importantly, within my riding. A lot of those discussions are with respect to trying to incentivize development based on some of the programs that we have here federally, but, as well, matching those programs with our provincial partners and sometimes even with our municipal and private sector partners.
The reason I say this is that, for the most part, when I look at these programs, I don't necessarily look at them with a political lens. I look at it from a business lens to ensure that, with the incentives we have available to us, it's going to meet the criteria, not only of the program itself, which, by the way, is applied to and then, through a matrix, scored.... Therefore, either they get it or they don't, based on the merits of their application.
I'll go back to my initial comments. It's the business of the government versus the politics of the government. Therefore, what's the return on investment that we're going to get for Canadians? Regardless of who that company is, it's the merit of what the company is going to do and what the company is going to create, especially as it relates to the economy, which the SIF program attaches itself to, and its whole purpose.
This funding goes back to 2020 and, quite frankly, has nothing to do with credit card fees. The context of it is that the federal government has worked with and enticed Mastercard Inc. to open a technology research and development centre in Vancouver with a $49-million incentive through its strategic innovation fund, the SIF program. It's no different from some of the economic development that—as I'm sure many of you have heard—we brought to Niagara and other parts of the country. A news report said:
The global payments network giant will fund most of the $510 million cost—
I'll repeat, Mr. Chair: $510 million.
—to create the centre, its sixth global R&D operation. It will focus on product development in digital and cybersecurity, artificial intelligence and internet-of-things technologies aimed at improving digital identification as Mastercard aims to enhance the security of its payments network from the growing threat of data theft and cyberfraud from increasingly sophisticated hackers.
This, I might add, is in the best interest of Canadians and, quite frankly, overall, is a priority of this government, and I can only say a priority of most members of Parliament who sit in each and every chair in the House, I'm sure.
This is what Mastercard said: “The centre will create 270 jobs by 2029 and hire 100 students on co-op work terms.” They went on to say, “The centre, in Vancouver's Old Exchange Building, is home to NuData Security, a 100-person business specializing in biometric identification that Mastercard purchased in 2017.”
Mr. Chair, the funding was focused on creating technologies as well as standards to ensure that Canadians and others around the world can safely use any device that could be connected to the Internet—not only the phone, but a tablet or computer—without concern that their personal and financial information could be stolen. In collaboration with the universities—
Liberal
The Chair Liberal Joël Lightbound
I'm sorry, MP Badawey, to interrupt this passionate speech, but the bells are ringing, and I would need unanimous consent to pursue—
Pardon me?
Liberal
The Chair Liberal Joël Lightbound
I know.
The vote is.... The bells are ringing, but I still need UC to continue the meeting.
Do I have unanimous consent?
Liberal
The Chair Liberal Joël Lightbound
No, I don't have unanimous consent.
The meeting is adjourned.
Thank you, colleagues.