Mr. Speaker, I am very pleased to begin the third reading debate of Bill C-7, the Marine Liability Act. Let me first begin by saying that this bill has found support among many members of the House and across all party lines. I would like to express my thanks to the critics from all parties in relation to moving this bill forward for the benefit of Canadians.
I was very pleased to see that we were able to work so productively at the transport committee phase and I hope that that spirit of cooperation and collaboration will continue here in the Chamber. I do believe it will. At committee, we heard concerns from the tourism industry and legal experts. In several cases, we moved to address those concerns and strengthen this bill to make it even more effective as a piece of legislation for the benefit of all Canadians.
Indeed, all parties understand that there is a need to move forward on this bill to provide this country with the most comprehensive liability and compensation regime while balancing the concerns of all impacted stakeholders. We heard that this will be of great benefit to the industry and will impact all stakeholders across the country. This bill will significantly modernize the Marine Liability Act and offer greater protection from the risks associated with marine transportation from coast to coast.
For example, this bill will do four major things. First, it will significantly increase compensation for Canadians from damages caused by oil spills, which I am personally very excited about. I know that people across Canada are very interested in hearing more about that. Second, it will guarantee compensation for passengers on Canadian ships through compulsory insurance for shipowners. Third, it will recognize the commercial realities under which the marine adventure tourism sector must operate and make sure that the sector remains viable. We heard this from experts as well as people in the industry themselves. Finally, it will protect the interests of Canadian businesses that supply foreign ships that do not pay their bills through a form of lien, much like a builder's lien or a logger's lien.
Bill C-7 is the result of extensive consultations with stakeholders. I am pleased to inform the House that the Standing Committee on Transport, Infrastructure and Communities also conducted its own thorough examination of the bill. The committee heard strong support from a number of stakeholders and experts in the areas of marine law and maritime transport. It made appropriate changes where indicated in the bill. The witnesses before the committee spoke of the balance that Bill C-7 needs to achieve by protecting the interests of the marine industry and of the Canadian public.
We heard loud and clear from witnesses that it was time for Canada to move forward with this type of legislation and for Canada to join the rest of the world in its move forward as well. As I said, the most exciting part is that this bill addresses the gaps in the liability and compensation regime for oil spills. As Bill C-7 is a priority for this government and would significantly advance maritime law in Canada, we are excited about its passage.
I would again like to thank and acknowledge the hard work of my colleagues on the committee. I hope that through continued collaboration on both sides of the House we will be able to move this bill forward without any further delay. Together, we can take one more step to modernize this important piece of legislation and protect Canadians for years to come.
I would like to thank the members of the committee one final time because it has been a very appropriate bill to push through in such a quick nature. Indeed, with their help, we will move it through the House.