Mr. Speaker, Bill C-60, the one we are currently studying, will alone amend about 50 acts. Just one vote will be held in the House to pass an array of measures.
I am interested in one in particular, and I would like to ask the parliamentary secretary a question about the Investment Canada Act.
The bill provides that businesses controlled by WTO investors will see the level of investment in Canada increase to $1 billion in three years before a review is conducted by the Minister of Industry. The bill also provides that foreign state-owned enterprises, such as Chinese companies, will not have access to this higher level.
However, that contradicts the foreign investment protection agreements, including the Canada-China agreement, which state that any enterprise, including state-owned enterprises that have a foothold, will have the same rights as Canadian enterprises.
Why is the government moving toward an amendment to the Investment Canada Act that goes against international trade agreements it wants to sign?