Mr. Speaker, originally I was not going to speak to the bill. However I would like to inject a bit of information that Canadians should be aware of.
The gist of the Bloc's arguments is appearance, as the member just stated. Canadians will know that when members of Parliament are asked to join cabinet there is a requirement that they put all their assets into a blind trust. There is a requirement that they also adhere to the provisions of conflict of interest under the auspices of the ethics commissioner.
The issue that the members have raised has been talked about quite a bit in this place and was before the finance committee. The ethics commissioner appeared before the finance committee and tabled a report on all the holdings of the finance minister, on all matters that had to be put into the blind trust.
I have looked at the report and all the information filed as required by the laws of Canada. I have concluded that very little could occur in the country that would not impact on the finance minister with regard to his investments or holdings. If interest rates go up, the finance minister will win. If interest rates go down, the finance minister will probably win. It is the same for any change with respect real property, rental property or other investments that happens in the House.
Should we say that anything the finance minister or any other cabinet minister has any direct or indirect relationship with should be exempt from any legislation that ever occurs in the House? Clearly the answer is no. That is why there is a blind trust and why others take care of the affairs of a minister who has responsibilities.
The members brought forth information and made indictments of the finance minister. They have suggested, for instance, that the bill was tabled by him when they know that is not the case. It is was the Secretary of State for Financial Institutions. They said that he brought forward these provisions. In fact that is not true. Those provisions were actually brought forward by the B.C. association responsible for shipping. The advocacy on its behalf was basically to stimulate the shipping industry in Canada. It was the association's advocacy; it was not the finance minister, as the members would like to suggest. As a matter of fact it has even put on the record that Canada Steamship Lines could not get any advantage presently from this provision.
However, if a few things were changed and a few other things were done there may be some tax advantages. It is a business and business will not be changed simply because of some changes. Business decisions are made on much more. This is not applicable only to this company. It is applicable to the entire shipping industry and those who would like to be involved in the shipping industry to try to promote shipping within Canada.
I wanted to raise this point because Canadians should know that information is being presented in an eschewed fashion. It is being presented in a way which questions the integrity of the finance minister. The members even suggested that it was contrary to the code of ethics. That is not so. The ethics commissioner came before the finance committee and ruled that it was not a conflict of interest. He had checked it out.
The opposition then decided to do even more work on it. There is no prohibition for members of Parliament or any committee or anybody else to do any further work that they might deem necessary, but this basically constituted allegations that were unsubstantiated. There was really nothing to prove.
The members want to say there is an appearance or an allegation, but I can bet they will not say that outside the door here. In here they have parliamentary immunity. They will not go outside the door and accuse the finance minister of bringing in provisions for his own benefit. That would be a slanderous statement. They would be sued.
I reaffirm for Canadians that the rules of this place require that all of the affairs of a minister be placed in a blind trust. The ethics commissioner has made a detailed ruling with regard to this matter. He has answered all questions from all members of all parties. The committee as a whole decided that there was no further business to deal with on this issue. The committee is not empowered to deal with witch-hunting or fishing expeditions. There was business before the committee and that is exactly what was done.
I suggest to the members and, perhaps more important, to Canadians that the question before the House is with regard to an omnibus bill relating to the budget of 1997. There are some important issues in it, the most important of which is that fiscal responsibility has always been demonstrated by the government since it took office in 1993.
The government has moved the country away from a $42 billion deficit and is now delivering in a fair and responsible fashion the balanced budget that Canadians asked for. It did not do it in a meanspirited way. It was the Liberal way to make sure that we dealt first with those who had needs, those with low and middle incomes. This was also reflected in the 1998 budget that we have already debated in the House. Provisions were focused and targeted to make sure that Canadians received the benefit of the hard work all of them had done to ensure that we got our fiscal house in order.
We all benefit from the financial health of Canada, from low interest rates, from growth in the economy and from growth in employment in Canada which will continue. The commitment of the government to be fiscally responsible continues. The leadership of the finance minister has been very prevalent. He has had to make some tough choices, but I believe those choices have been fair and in the best interest of all Canadians.