Madam Speaker, I would like to thank my hon. colleague for his very thoughtful question and his engagement on this bill. We have had numerous discussions about the subject matter that he raised.
The member is right. The last time we had significant changes to the framework and the framework laws was in 2001. He is absolutely correct in his assessment of the situation at the corporate board level. Only 13.1% have women corporate directors right now. That is absolutely unacceptable. There are 40% of companies that do not have any women on their boards.
This is the challenge with which we are dealing. The idea of comply or explain, and putting forward this policy is really a reflection of watching what happened in the U.K. and Australia, when they put these measures into place. They did see a significant jump in the number of women at the senior level positions, senior management, and at the board level. We are trying to see how this unfolds.
I do acknowledge that the member opposite has put forward some ideas and thoughts with respect to amendments. There is a process in committee to look at that. As a government we do not have a monopoly on good ideas. We always look forward to the opportunity of engaging the opposition, and seeing what ideas they come back with.
That is the underlying premise of this bill. It is promoting diversity, different viewpoints and thoughts, and coming together with a progressive agenda that really speaks to our diversity, and the fact that we want to have an inclusive agenda going forward.
The member opposite raises some good points. I look forward to having that discussion, and so do my colleagues at committee, when he brings those amendments forward.