Mr. Speaker, let me advise the member clearly of what the existing book policy is of the government.
The policy prohibits the establishment of a new retail book selling business by non-Canadians. Non-Canadians may only engage in book retailing as minority investors in Canadian controlled joint ventures. Any proposed joint venture that may be brought forward will be carefully examined under the existing powers under the Investment Canada Act to ensure that control in fact is exercised by the Canadian investors.
We do not contemplate in any way softening or weakening that policy in favour of any proposed investment. I believe the interests of the Canadian booksellers will thereby be truly protected.