House of Commons photoLost his last election, in 2019, with 34% of the vote.
Infrastructure December 7th, 2017
Mr. Speaker, I recently launched the smart cities challenge in Calgary, encouraging communities to work together to improve the lives of the residents through innovation, data, and connected technologies. We are encouraging our partners to be bold and innovative, and participate in the smart cities challenge in order to build stronger, more sustainable, and inclusive communities, and create jobs and a more thriving economy.
Infrastructure December 6th, 2017
Mr. Speaker, our government is delivering on our commitment to build a new toll-free Champlain Bridge. As we move forward the acceleration measures to meet the ambitious construction timeline, the quality of construction is our top priority.
On a project of this size, some technical challenges can inevitably arise. All defective material is corrected before the pieces are assembled. We are committed to delivering a quality bridge that will last 125 years.
Infrastructure November 22nd, 2017
Mr. Speaker, our government is focused on investing in public infrastructure to create long-term economic growth and build strong, sustainable, and inclusive communities. We have appointed 10 outstanding Canadians to the board of the infrastructure bank. These appointments will help us mobilize pension funds and institutional investors to build more public infrastructure that Canadian communities need, and create jobs for the middle class.
Cannabis Act November 9th, 2017
Madam Speaker, I would like to advise that agreement could not be reached under the provisions of Standing Orders 78(1) or 78(2) with respect to the report stage and third reading stage of Bill C-45, an act respecting cannabis and to amend the Controlled Drugs and Substances Act, the Criminal Code and other acts.
Under the provisions of Standing Order 78(3), I give notice that a minister of the crown will propose at the next sitting a motion to allot a specific number of days or hours for the consideration and disposal of proceedings of the said stages.
Questions on the Order Paper November 3rd, 2017
Mr. Speaker, with regard to meetings and correspondence between the Minister of Infrastructure and Communities, or his office, and Dream Unlimited Corporation, formerly known as Dundee Developments, since November 5, 2015, Infrastructure Canada has nothing to report.
Infrastructure and Communities September 22nd, 2017
Mr. Speaker, we are very proud that yesterday all the provincial and territorial ministers came together to talk about the historic investments we are making in infrastructure. In the case of Quebec, we have approved 424 projects, with a federal investment of $1.6 billion. We are approving $1.28 billion for the REM project in Montreal. These are top priorities for the Government of Quebec and the City of Montreal. We will continue to work in partnership with the province to deliver on the commitments we have made.
Infrastructure September 22nd, 2017
Mr. Speaker, our government is proud to be investing in communities of all sizes, including $2 billion dedicated funding for small communities. Last month, we announced more than $11 million for 77 projects in communities across Newfoundland and Labrador to provide clean water, and recreational and cultural amenities.
We will continue to work with our partners to make these investments to build strong, sustainable, and inclusive communities.
Questions on the Order Paper September 18th, 2017
Mr. Speaker, with regard to the proposed Canada Infrastructure Bank, (a) the bank is subject to the Access to Information Act.
Moreover, (b), the bank is required to disclose information in accordance with the Access to Information Act, with one narrow exception that covers only information in relation to the bank’s clients, that is, other investors and project sponsors, and not the bank or projects themselves. This will allow the bank to be a trusted commercial counterparty and was modeled off similar provisions for the protection of client information for other financial crown corporations.
Finally, (c), the bank will be expected to follow best practices and legislative requirements for crown corporations regarding the transparency of its operations. Notably, the proposed amendments to the Access to Information Act in Bill C-58, an act to amend the Access to Information Act and the Privacy Act and to make consequential amendments to other acts, would formalize the requirement that crown corporations publish travel and hospitality expenses as well as any report that is required to be tabled in Parliament.
Questions on the Order Paper September 18th, 2017
Mr. Speaker, with regard to (a)(i), the Canada infrastructure bank would use federal support to attract private sector and institutional investment. The federal support would be in the form of investments in projects, and the investment would result in the bank holding an asset on its balance sheet. To the extent that the federal support to help a project get built involves an expenditure by the bank greater than the value of the investment asset it receives, it would be considered concessional capital. With regard to (a)(ii), “crowding-in” is the attraction of private sector and institutional investment to help pay for infrastructure.
With regard to (a)((iii), “security” means collateral for an investment.
With regard to (b), the bank would hire professionals with the expertise to structure and negotiate complex financing arrangements, and this could be one term of the negotiation to be determined on a project-by-project basis.
With regard to (c), the bank would hire professionals with the expertise to structure and negotiate complex financing arrangements, and this could be one term of the negotiation to be determined on a project-by-project basis.
With regard to (d), it would be up to the bank, as an arm’s-length entity, to determine the exact financial instrument most appropriate for each investment, and therefore it is not possible to determine at this time what percentage of its portfolio would be represented by specific financial instruments.
With regard to (e), it would be up to the bank, as an arm’s-length entity, to determine the exact financial instrument most appropriate for each investment, and therefore it is not possible to determine at this time what percentage of its portfolio would be represented by specific financial instruments.
With regard to (f), under traditional infrastructure funding models, governments pay 100% of the costs of infrastructure and bear all of the risks. Compared to this traditional model, the bank will reduce the risks taken on by taxpayers to build the infrastructure we need. By bringing in private investors, risks can be shared, and the bank will ensure the risks borne by taxpayers are minimized. Private investors will be incented to reduce overall risk as well, leading to enhanced due diligence and innovation in infrastructure projects.
For the bank projects, investors will be subject to robust investment agreements designed to protect the interests of Canadians. Just as in a typical private sector transaction, the bank and other investors would negotiate ahead of time how any potential losses would be shared.
Any bankruptcy or default in a project would be guided by the legal agreement between the parties, who will be able to avail themselves of all the recourse mechanisms provided by law.
With regard to (g), loan guarantees would be a tool used in special circumstances and would be structured properly to ensure private capital is at risk and the project benefits from private sector discipline. That is why the legislation includes special oversight provisions on the use of loan guarantees.
If a loan guarantee is used and there is a bankruptcy or default in a project, it would be guided by the legal agreement between the parties, who will be able to avail themselves of all the recourse mechanisms provided by law.
With regard to (h), under the legislation, the bank could invest only in projects, and could not invest in any other party involved in the transaction
Questions on the Order Paper September 18th, 2017
Mr. Speaker, with regard to the government’s search for a chief executive officer, CEO, for the proposed infrastructure bank up to and including the date May 15, 2017, the contract awarded to Odgers Berndtson is to conduct anticipatory searches for the leadership of the infrastructure bank, including the CEO, the chairperson, and the bank’s board of directors.
The contract value is $350,000 excluding taxes. It started on April 1, 2017, and ends on March 31, 2018. The contract number is 3515798 and the file number is CP279.
The qualification requirements for the CEO position are posted as part of the opportunity notice on the Government of Canada’s appointments website at https://www.appointments-nominations.gc.ca.