Good afternoon, Mr. Chair, and members of the committee.
Thank you for your invitation to discuss the proposed funding outlined in supplementary estimates (A). I hope to provide you with some insight as to where these funds would be allocated, pending Parliament's approval.
CSIS's primary mandate is to investigate and advise government on threats to the security of Canada. These threats are defined in section 2 of the CSIS Act as espionage and sabotage, foreign-influenced activities, terrorism, and subversion.
Given this mandate and the distinct operational requirements that flow from it, the supplementary estimates are a rare instance in which general details regarding CSIS's expenditures are publicly disclosed. Otherwise, such information is classified to prevent our adversaries from gaining a better understanding of our existing capabilities and resources. The funds requested in the supplementary estimates (A) would represent an increase of approximately $300,000 to CSIS's authorities, from $577.1 million to $577.4 million. This represents a relatively small increase to CSIS's spending authorities.
With regard to statutory appropriations, approximately $48,000 is proposed for contributions to support employee benefit plans. In terms of voted appropriations, $275,000 of additional funding is requested to continue national security reviews of foreign investments, as part of the Investment Canada Act's national security review program.
While foreign investment is a key driver of Canada's economic prosperity, it does have the potential to gravely impact national security interests. For example, in assessing investments, the government may take into account factors such as the transfer of sensitive technology or know-how outside of Canada, or the potential impact on the security of Canada's critical infrastructure.
As Malcolm indicated, to mitigate risk, the Investment Canada Act authorizes the government to review foreign investments on national security grounds. The national security review process is supported by Public Safety Canada and Canada's security and intelligence agencies, including CSIS, which assess foreign investments and identify potential national security concerns. CSIS works with partners to provide advice in support of an established process whereby the Governor in Council may disallow an investment or impose mitigation measures on investments that would otherwise be injurious to Canada's national security. A renewal of funding will allow us to continue to support the national security review process at current levels.
I would like to emphasise that CSIS plays a critical role in the national security review of foreign investments, which is an intensive process in a compressed time frame. This is critical work that we wish to continue to support.
With that, Mr. Chair, I will conclude my remarks and would also welcome any questions.