Mr. Speaker, a recently released Ernst & Young document presented as part of the defence of U.S. Steel in Federal Court leads one to be concerned about how the shutting down of two of its Canadian mills affected pricing within the North American steel market.
In the affidavit, Ernst & Young makes a truly breathtaking comment, that shutting down these mills was not a criminal act, but somehow a net benefit to Canada. That is right, it said it was a net benefit to Canada. It should try telling Hamilton steelworkers that.
The potential impact of these actions on pricing within the steel market is not being addressed by the current lawsuit between the Government of Canada and U.S. Steel, and it needs to be. There are not only these tactics, but we also had the destruction of the defined benefits pension system caused by U.S. Steel and a number of other foreign-owned companies in Canada.
The utter contempt for Canadians, and indeed for common decency, displayed by these tactics suggest it is high time to review the Investment Canada Act. We need to give the Canada Investment Act real teeth to ensure foreign companies will never again be allowed to operate in this manner in Canada.
I am encouraged that the government has agreed with the--