Mr. Speaker, the minister stated that the infrastructure bank would be arm's length from government, but the legislation clearly states that the Minister of Finance and cabinet approves and guarantees the loans, appoints the board of directors, and approves the CEO. They can fire these people at any time without cause.
As well, they used BlackRock executives to develop the legislation, so not only is there a blatant conflict of interest. There is potential for significant interference.
Could the minister tell the House exactly what he meant by arm's length?