Mr. Speaker, I am again honoured to stand in my place here in the House of Commons to represent my understanding of what is good for Canadians and to represent also the needs and aspirations of a number of people in my riding. That certainly does apply in the case of Bill C-41.
I cannot help but begin my speech by saying that the member from the NDP who spoke sure did drift a long way from the intent of what the bill is about. I was very disappointed that he allowed himself to be reduced to getting into a whole bunch of innuendoes that does not fit this place. It is disrespectful of what the House of Commons represents as well as what we as individual members are to do here.
I want to talk about the various implications of the bill. I am sure most members are well aware that as with almost any bill there are some good parts and some bad parts. I would like to use the first few minutes of my time to talk a bit about the process in terms of how bills are brought in and how these decisions are made.
It is very important for the government, whichever party it is that is governing at the time, to listen very carefully to people who have problems with a bill or motion. Usually it is government bills. The government should pay close attention when we have some legitimate concerns.
I would like to congratulate the hon. member for Tobique—Mactaquac. He is indeed an honourable member of the committee. It has been good to work with him, although I will admit that I was there as a substitute and I am not a regular member of that committee. The member, by compromising, did win one point.
I want to throw out the question: Is that really what we ought to be doing? Should we really be selling out on five items in order to gain one? That is what we are reduced to. It does not matter whether the members are on the opposition side or whether they are backbenchers on the Liberal side. The instructions that come to the committee are from the minister, the deputy minister or whoever it is in the department. We detected that in this bill as we have seen it so often before.
Yes, this amendment was put forward and yes the hon. member talked to other members about it and he was able to persuade them. But the member himself said that he would like to thank the minister for being open to his amendment. One person. I know, we balance this. The minister is ultimately responsible for the operation of the department. That is true. There is a lot of obligation on his part. But in this particular instance we also need to recognize that there are some concerns beyond just this one that got horse traded into existence. I wish there would have been a greater openness.
I hesitate to do this so soon before the joyous season of Christmas, but I have to admit that I sometimes despair of the process used in this place. I really wish we had a much more open and more democratic way of doing these things.
Speaking about this bill, the first issue I am going to talk about is the one that causes me a great amount of concern. The mint is a crown corporation, but this bill gives to the mint new rights and powers which exceed what it had in the previous act. It might be illustrative to read the amendment which we know is going to be passed. Once the government decides that it is going to do something, that an amendment is no good and another one is okay, we know the Liberals will pass it based on previous experience and knowing how they operate.
The bill says that in carrying out its objects “the mint has the rights, powers and privileges and the capacity of a natural person and may in particular” and then there are several things listed. One of the things the mint may do in particular is it may procure the incorporation, dissolution or amalgamation of subsidiaries and acquire or dispose of any shares in them.
The mint as a mother corporation may have a whole bunch of subsidiary corporations. To me, that is fraught with danger. When there are subsidiaries and subsidiaries and so on, it removes accountability further from the minister and hence from this place and hence from the people.
The bill will permit the mint to acquire and dispose of any interest in any entity by any means. When somebody says “I am going to give you the right to do anything that you want by any means you choose” I have a bit of a problem with that.
Of course, the preamble says it must use this power in order to promote the well-being of the mint in order to carry out the objects of its incorporation. The mint may buy a corporation or it may set one up by any means it wants. Perhaps it would pay $29 a share for a little subsidiary corporation that it wants to own. Then it can dispose of it by any means that it wishes. All one has to do is use one's imagination on how this could happen.
The very subtle thing here is it would permit the mint, using the backing of the government as its financial base, to procure anyone who dares to compete with it and then to dispose of them by basically shutting down the business. That is scary. We need to be careful about that.
The next thing listed that the mint might do also has all of these all-inclusive terms. The mint can generally do all things that are incidental or conducive to the exercise of its powers and the bill talks about the coins of the currency of Canada, the coins of the currency of countries other than Canada, gold, silver and other metals, and also metal plaques, tokens and other objects made or partially made of metal. Generally the mint can do all things that are incidental.
If I were to allow my imagination to run freely, and I do not do this often, I usually have a disciplined mind, but if I were to just let it run a little freely, one of the things the mint has to do is to move its product from place to place. I can see that it might want to have a subsidiary trucking company or perhaps it might want to buy a railroad or two. I am exaggerating of course, but this bill would allow the mint to do that if it so chose. It is something we really need to guard against in giving a crown corporation this kind of power. There has to be a continued line of accountability and approval related directly to what is good for the people.
There is a section that has to do with non-circulation coins. We know there are a number of coins produced every year, coins for medals and coins for commemoration. I imagine we will be inundated with coins at the millennium. I have read a few articles on that topic. In 1867 the country was born and in 1967 we had coin for each province to commemorate. It was a series of quarters. I imagine this can happen again.
Medals and non-circulation coins and collectors coins may be determined both in characteristics and denomination by governor in council, which means the minister can authorize it. It can be announced and that will be the end of it.
When it comes to circulation coins, happily the amendment from my colleague from the Conservative Party did gain approval and certainly with our support as well. There is a danger when circulation coins are brought in or removed that the people could be ignored in the decision. One thing does concern us, the amount of public debate and accountability when characteristics of coins are changed. As the coin business goes this also is very important to Canadians. There are literally thousands of people use coin operated equipment. When a coin is changed in design or structure, that has implications to machines that accept coins as payment.
There is a cost saving measure now to steel plate coins with nickel on top of them so they would be nickel plated steel. When that happens the density of the coin changes. Any mechanism in the machines to detect whether this is a genuine quarter or just a slug will be affected. I have talked to the administrative people in the mint. They are fine people. They are friendly. I found them very easy to talk to and I am sure they would make sure that when they changed the composition of coins or the shape of coins they would pay attention to this. But there is nothing here that requires them to so. It just says they can do whatever they want to in order to pursue their own objectives, presumably to make money for the mint.
Our penny has changed in the last couple of years. It went from a 12 sided coin to a fully round coin. Of course we do not use pennies except in Swift Current, Saskatchewan. I do not know if they still do.
In places around here you can pay one dollar for 10 minutes in parking meters. Swift Current had 12 minutes of parking for a penny. I could not resist the temptation, though I was just going into the post office and back out, I plugged in five pennies because it felt so good to get an hour of parking for five pennies. That was several years to.
Municipalities that have parking meters need those meters adjusted if the coin composition changes, if the shape changes or if the weight changes in order that the parking meter will accept the appropriate coin.
I think it is a ripoff at Ottawa's airport right now where it wants us to put our credit card in and then dings us for a dollar every 10 minutes. To me that is a huge ripoff because we only go there to pick someone up. To rip people off that high is not acceptable.
That is a diversion almost as far away as my NDP member so I had better get back on to the list of things I am concerned about.
Included in this act are a definition and a few little changes on what constitutes legal tender. Everyone once in a while we hear someone who is fed up with a big bill they got so they pack up five big pails of pennies and pay the bill with pennies. The person to whom they are paying it really does not have to receive it because legal tender is limited, as it always has been. Usually they accept it and the guy gets his day in the sun and his picture in the paper.
However, the limits are also given. For example, Mr. Speaker, if you owed me $40 you could pay that with $2 coins but you could not pay it with $1 coins. Those limitations are given here. Using $2 coins is limited to $40 and using $1 coins it is limited to $25. Using 10 cent pieces, quarters and 50 cent pieces is limited to $10. Using nickels is limited to $5 and using pennies is limited to 25 cents. The person can actually demand currency other than pennies for any debt owed which is greater than 25 cents. I expect that sometime soon we will have a move to remove the penny since I think its usefulness in this inflated era is reduced in value and I am not sure we should maintain it. Perhaps it should become a giant collector's item. I would certainly favour that.
I want to say something now about the mint and its production of its own blanks. This does impinge on the Westaim Corporation which operates in my riding. I have spoken on this topic before and it is a continued distress for me. I have talked to both sides. I have talked to people from Westaim and I think they are very fine people just like the people in the mint.
There are certainly two sides to this debate but there is one side I think really needs to be emphasized. Even though one can argue it is not borrowing from the consolidated fund nor is it taking money directly from the taxpayer, it is a government guaranteed loan. This legislation states that it may borrow now instead of a maximum of $50 million up to $75 million and may get it from either the consolidated revenue fund or from any other source.
Of course for the building of the plant in Winnipeg it did use other sources. It borrowed $31 million through the sale of regular financial instruments and received a very good rate. Why not? If I as an investor wanted to put some money somewhere I know the mint is a really safe place to put it. I am willing to accept a lower rate of interest. The mint gains by that and by being backed up by the government and the investor is a beneficiary because that investor knows the mint is not going to go broke unless the whole country goes broke. I suppose that is always a possibility but it is much more remote than for other corporations.
The coin plating plant is competing with private enterprise, competing with the job that 100 people in my riding have been doing successfully for 30 years, with the backing of the Canadian dollar, including the taxpayer dollars that have been collected from Westaim and its employees.
They are forced as taxpayers to back up their very competition that is driving business elsewhere. I find this very distressing. It is a faulty principle. The government is getting out of business. It has privatized with NavCan. It has privatized a whole bunch airports. We even have portions of the military forces being run by private groups on contracts. In this instance it is going in the opposite direction. It is wrong headed. It is wrong for the government to be in competition.