Mr. Speaker, I rise today to speak on the motion to extend the sitting hours in the House.
Our government believes that good, corporate governance is one of the mechanisms that help support economic efficiency and growth. We recognize that our country is at its most prosperous when everyone has a fair chance at success. That is why, in September 2016, we introduced Bill C-25, enhancing business frameworks and promoting inclusive economic growth.
Bill C-25 makes important adjustments to the framework laws that govern the Canadian marketplace. It would increase shareholder democracy and participation, increase women's representation, as well as diversity, on corporate boards and in senior management, improve corporate transparency, reduce regulatory burden, and increase business certainty.
Both official opposition parties have expressed support for this legislation, as have many stakeholder groups. However, the bill has been stuck at report stage since early April. I would like to take this opportunity to share with the House some of the key elements of this important piece of legislation. Specifically, I would like to focus on competitiveness in our economy.
Bill C-25 makes a number of targeted amendments to our economic framework laws in an effort to bring them up to date for our modern economy. Keeping our laws relevant is beneficial in a number of ways. It allows us to embrace best practices, remove ambiguity and minimize regulatory burden, just to name a few.
Competitiveness is a word that we hear a lot when discussing the economy, but it is also one of those words whose meaning may change a fair amount, depending on the context. When Red Wilson's competition policy review panel undertook an examination of Canada's competition and investment policies in 2007 and 2008, it set out to provide recommendations to the government on how to enhance Canadian product—