Mr. Speaker, I would like to say that I will be sharing my time with the hon. member for Terrebonne—Blainville.
A response to such a Speech from the Throne is, ironically, both too long and too short. We only get ten minutes. Ten minutes to criticize what was absent from the speech. That is not much time. This Speech from the Throne made no reference to the fiscal imbalance between Ottawa and the provinces, particularly Quebec.
The speech contained nothing on Quebec's demands regarding parental leave, an issue that has been ignored for many years. There is nothing in terms of changes and improvements to employment insurance. A number of Liberal ministers made promises to that effect during the 2000 election campaign. There was no mention of a plan to help the softwood lumber industry and its workers.
Ironically, as I said, ten minutes is not nearly enough time to talk about all that is missing from this Speech from the Throne. However, ten minutes is too much time to talk about what was in the Speech from the Throne. Basically, let us be honest, it is a condensed and rehashed version of what the federal Liberals have been serving since 1993, since their infamous red book.
It is a wish list that they were never prepared to act on. Still today, the speech reminds us that we must fight against child poverty. For nine years, the Liberals have had the opportunity, through all sorts of measures that come under their jurisdiction, to fight child poverty, and they did nothing.
The speech mentions how health is a priority. We know that the government now pays only 14% of health care costs in Quebec, and in all of the provinces. In recent days, we have seen newspaper ads in Canada and Quebec paid for by all of the provinces and territories, reminding us of this fact. There is consensus among the provinces and territories on this. The consensus within Quebec is very strong. All three parties in the National Assembly support the position outlined in the Séguin commission's report. In the end, other than paying lip service to the fact that the health of Canadians and Quebeckers is a priority of the government, there are no real measures to improve the situation in health care.
Overall, I have come to realize in my time in this House that there is a rather simple formula that could be applied to the way the current Prime Minister of Canada functions, or to his heritage. The federal Liberals' slogan could well be “Signal left, then turn right”. Theirs are extremely conservative policies with a focus on empire-building, a vision I might call arrogant as far as part of the population and some of the provinces of Canada are concerned. It is always extremely centralist and lacking in transparency. I have quickly listed 16 areas of encroachment into areas of Quebec and provincial jurisdiction. Once again, this is a just a wish list.
Imagine, when the policies are truly known, what attacks will be launched on Quebec once again. I think the label for the present Prime Minister's era will be the era of confrontation. There is nothing in the throne speech, nothing in the speeches by his presumed successor and former finance minister to suggest anything new with the federal Liberals in the medium or long term.
Now that I am the finance critic, I will try to concentrate on that area, so I will give as an example, from page 10 of the Speech from the Throne.
The government will work with all participants to ensure that Canada has the modern and efficient securities regulatory system it needs.
This very day, the Minister of Finance has announced the appointment of Harold MacKay as his special representative to advise on Canadian securities regulation.
The main problem is that, according to the Canadian Constitution, securities regulation is a provincial responsibility. What is the federal government doing announcing the appointment today of a special advisor on Canadian securities regulation when this is absolutely not under its jurisdiction?
It will tell me that some people in Canada, especially Ontario, are pushing for this idea of a federal securities regulation agency. The president of the Ontario Securities Commission says that it would be a good idea to have a Canada-wide federal agency to look after securities, although this is not a federal jurisdiction.
The idea is to have this federal agency's head office in Toronto and to once again give Toronto a leg up as the financial centre for all of Canada, to the detriment of Montreal in particular, as well as Vancouver. We are not stupid.
Behind this initiative, which addresses a real concern of small shareholders, who were cheated by some less than scrupulous directors of large companies, the federal government is taking advantage of this concern to further centralize in an area outside its jurisdiction. It is doing this to the detriment of Montreal and the Quebec financial market.
We must be very clear about this. As Quebec's Minister of Finance, Pauline Marois, has said repeatedly, we are not unwilling to harmonize securities regulations, but we want to take into account the regional reality of financial markets.
In Quebec, for example, we have the Civil Code. Like it or not, the federal government will have to take into account the reality in Quebec, which is that we operate under the Civil Code and not the common law.
Why have a Canada-wide agency, which will still have to take into account Quebec's distinct character? If it does not, it will be ineffective and will not meet the needs of small shareholders and investors.
Furthermore, a Canada-wide agency will make the process more cumbersome. We know how bureaucratized this government is and we know that the entire federal administration is extremely slow. The Government of Quebec has led the way after the financial fiascos in the United States, the Enron scandal in particular. Right now, it has a parliamentary committee considering Bill 107, which will create new offences and impose tougher penalties on the directors of companies which falsify their financial statements.
Quebec has been able, within its existing jurisdiction, to react rapidly to a situation which demanded action.
In the Speech from the Throne, and the Minister of Justice repeated this during oral question period, issues are being reviewed to see whether some legislative amendments are required. The government talks about ways to strengthen their implementation. It is still looking at what should be done, while in Quebec we have already dealt with all the problems resulting from the scandals in the United States.
If the federal government wants to do something, it can take action in its own jurisdiction. The Bloc Quebecois proposed a number of measures, including creating a new offence for insider trading. The penalty for this offence could be a 10-year jail term. Under this offence, business executives would be prohibited from using confidential information for personal gain. Such an offence does not exist in the Criminal Code. We could create one.
A new offence could be created for securities fraud. This offence, which would be patterned on the measures adopted in the United States, could carry a 10-year jail term. It would prohibit fraud when selling or buying securities. Such a measure comes under federal jurisdiction. The government could also amend the offence relating to the falsification of books and documents under section 397 of the Criminal Code, to specifically target the falsification of financial statements. The penalties provided under section 397 of the Criminal Code could be increased from five to ten years.
These are issues that the federal government should tackle, because it has the constitutional legitimacy to do so.
But the federal government is not interested in doing that. It is interested in increasing its powers. It wants to do so at the expense of Quebec but, unfortunately, it also does it at the expense of the other provinces.
Let us hope that, in the rest of Canada, people will begin to realize that ,behind all these policies, there is a philosophy that is in sharp contrast with the philosophy that led to the creation of Canada.
Personally, I do not think that this system can be corrected. This is why I believe that this Speech from the Throne is further evidence that the federal government is denying the existence of a fiscal imbalance and that Quebec sovereignty is the only way for Quebeckers to achieve their full potential.