Brian Storseth

[Financial System Review Act, March 27th, 2012]

Mr. Speaker, what an interesting debate we are having here, where the NDP are claiming to be Liberals and Liberals NDP. The leader of the NDP was a Liberal and the leader of the Liberals was an NDP. I am confused about it. I am just happy to be a Conservative.

Mr. Speaker, I am pleased to speak today to the House, and to all Canadians, on Bill S-5, the financial system review act. Bill S-5 would make improvements to one of the key components of Canada's economic success, our financial system.

Before I continue, I just want to remind members of the opposition that, unlike in Europe and the United States, not a single Canadian bank collapsed or had to be bailed out by Canadian taxpayers. The reason for this is our strong, stable and flexible financial system. Canada's well regulated financial system is universally recognized as one of the primary reasons for Canada's swift recovery following the global crisis.

Recently, an independent Financial Stability Board peer review validated this claim by praising actions taken by the Conservative government to ensure that Canada's financial system remains strong, enabling Canada to emerge from the global financial crisis in a position of strength.

In its review, the board highlighted the resilience of Canada's financial system, calling it a model for other countries around the world. The board's review said the strength of Canada's economy and its financial system meant that no Canadian financial institution failed or required government support in the form of a capital injection or debt guarantee during the global financial crisis. The report said:

The good performance of the financial system both during and after the crisis provides further evidence of its soundness and resilience.

As the board's report also noted, since 2008, the Conservative government has taken steps to make our financial system more stable, reduce systemic risks and ensure that we have the flexibility to protect the financial institutions when needed. The report went further, citing Canada as an example that other jurisdictions should emulate in developing financial sector policy.

Clearly, these sentiments are felt by jurisdictions around the world. A recent report from the United States congressional research service identified our financial system as a model for others to build on. It said:

... Canada’s supervisory system and regulatory structure have proven less susceptible to the bank failures that have loomed in the United States and Europe and may offer insight for U.S. policymakers.

British Prime Minister, David Cameron, praised our financial system. He said:

[Canada's] economic leadership has helped the Canadian economy to weather the global storms far better than many of your international competitors.

The praise goes even further. Numerous observers have noticed and paid tribute to Canada's well regulated financial sector. For example, over the past four years the World Economic Forum has ranked our banking system as the soundest in the world. Forbes magazine has ranked Canada number one in its annual review of best countries to do business. Five Canadian financial institutions were named to Bloomberg's most recent list of the world's strongest banks. That is more than any other country.

At the same time that our system is receiving international praise, we cannot be complacent. Bill S-5 would make necessary improvements to Canada's financial system so it would continue to be the envy of the world.

As Canadians, we are justifiably proud of our financial services sector, which employs over 750,000 people in well paying jobs, represents about 7% of Canada's GDP and is a leader in the use of information technology. We are the world leaders in this field. We aim to keep it that way. It is for this reason that the government has the long established practice of reviewing the statutes governing federally regulated financial institutions every five years. This mandatory review helps to maintain the safety and soundness of our sector.

How would this legislation accomplish these goals? Under the proposed legislation, certain larger foreign acquisitions of financial institutions would need the approval of the Minister of Finance. This merely reinstates some of the historical oversight provisions repealed by previous Liberal governments in early 2001. In practice, it would require ministerial approval if a federally regulated financial institution were to acquire a major foreign entity which significantly increased its assets by more than 10%.

This is a move supported, not only by industry stakeholders, but also by Julie Dickson, the Superintendent of Financial Institutions.

The legislation would also reflect the natural growth of the banking sector by increasing the large bank ownership threshold from $8 billion today, to $12 billion. This would have no impact on Canada's five large banks. They would continue to be subject to widely held requirements. This change would merely reflect growth in our financial sector.

Bill S-5 would also build on this government's proven record of improving consumer protection by making important changes to federal financial institution statutes. In particular, the bill would increase the maximum administrative penalty that the Financial Consumer Agency of Canada could levy from $200,000 to $500,000. It would confirm that Canadians, including bank customers, would be able to cash government cheques of amounts less than $1,500 free of charge at any bank in Canada.

The legislation would also demonstrate this government's continuing support for credit unions. Building on the federal credit union charter, Bill S-5 would amend the Canadian Payments Act so credit unions would fall within the co-operatives class in the act rather than the bank class.

Speaking to this change, the Credit Union Central of Canada, which is the national association of credit unions in Canada, had this to say:

Placing the federal credit union in the cooperatives class will preserve and strengthen the credit union system representation at the CPA. It will ensure that a federal credit union will be represented by a director, who speaks for the interests of cooperative financial institutions in CPA matters.

In short, this change would promote a level playing field within the financial sector, which would generate competition in the industry, which would ensure a stronger, more stable system overall. Bill S-5 would also include a number of technical refinements to ensure the effective implementation of what is referred to as a bridge bank tool. This would build on our government's commitment in the 2009 budget to strengthen the authorities of the Canada Deposit Insurance Corporation, to effectively preserve the critical functions of a financial institution in dire straits and to help maintain stability in the financial system.

I would like to finish by saying that it is constant improvements like those included in Bill S-5 that make Canada's financial system the envy of the world. Surely, even the members of the opposition can see that it is the routine fine tuning of Canada's financial institution legislation that would keep our financial system strong, stable and flexible for Canadians. On that note, I urge the members of the opposition to stand and support the swift passage of this very important legislation.

[St. Paul and District Hospital Foundation, March 7th, 2012]

Mr. Speaker, this past Saturday I had the honour of attending the fourth annual St. Paul and District Hospital Foundation fundraiser in my riding. After proceeds from tickets, donations and live auctions items were tabulated, the foundation raised $60,000 from the over 300 people who attended.

The money raised will be put toward a monitor for post-operative patients who have had general anaesthetics and two Life Pak 12 defibrillator monitors, which are used in each of the trauma rooms in the emergency department for heart attack or cardiac arrest patients.

I would like to extend my sincere gratitude to the St. Paul and District Hospital Foundation and all its volunteers, including Dr. Albert Harmse for his leadership in this role, as well as the community of St. Paul for supporting this important fundraiser that will help to save lives in our community and for partnering to bring the best health care possible to rural Alberta.

[Firearms Registry, February 16th, 2012]

Mr. Speaker, Canadians gave our Conservative government a strong mandate to end the wasteful and ineffective long gun registry once and for all. This is exactly what we are doing.

I am proud to report that last night this House passed, by a vote of 159 to 130, the ending the long-gun registry act.

Would the Minister of Public Safety please update the House as to the status of this legislation and how close we are to finally scraping this ineffective registry?

[Canadian Human Rights Act, February 14th, 2012]

Mr. Speaker, I know the member for Malpeque does not like open and free debates. That is why he tried to hold western Canadian farmers away from freedom for so many years.

I will now take the time to address some of the concerns of opposition members.

Members of the Liberal Party have come forward today and said that section 13 is very important and that protecting against hate speeches is critically important, but that it is not so important that we should actually have any penalties for those who break it. That is actually what the Liberals came forward today and said.

Every member of the NDP caucus who has stood has used the excuse that the burden of proof under the Criminal Code of Canada is too great and that it is too complex. They propose that we have two tiers of hate speech. I, for one, do not necessarily understand that. I do not understand how we can have one tier of hate speech that is worse than another tier of hate speech.

When we talk about the burden of proof and trying to make it easier, what we are giving up as Canadians are some of our natural rights as Canadians. What they are asking Canadians to give up is the right to an attorney, the right to a speedy and fair trial, and the right to face our accuser. Heck, they are even saying that we should not have the right to defend ourselves with the truth, that the truth should not be a defence in this country.

When my constituents hear about this and they hear about these quasi-judicial courts, they are absolutely appalled. That is why I believe it is important that we, as Canadians, stand up and defend our civil liberties and say that it is time to repeal section 13 of the Canadian Human Rights Act and ensure that these types of trials happen in an open, fair and transparent system called the Criminal Code of Canada where there are checks and balances that Canadians have already approved.

The core message of Bill C-304 is protecting freedom.

The last thing I will address is the hesitancy on the opposition benches. I know there are a lot of new members of Parliament in this place but when I look at the weak arguments of burden of proof I see people who have already been told by their whip how they will vote so they need to formulate a reason for voting against it.

What I would ask members on the other side to do is to please throw off the shackles of their whip. This is a private member's bill. I would ask them to please stand and vote the conscience of their constituents. I have consulted my constituents on this bill. I hope all members will consult their constituents before they take the time to vote on this because protecting our freedom of speech is one of the greatest things we can do in this country.

[Canadian Human Rights Act, February 14th, 2012]

Mr. Speaker, I will begin by acknowledging all my colleagues who have stuck around and participated in the debate. As it is Valentine's Day, I thank them and their spouses for allowing them to be here to participate in it. I also thank my lovely spouse who is here supporting me tonight, giving up part of our Valentine's Day.

The purpose of the bill is to protect our fundamental freedoms. The core freedom, the pillar of our democratic society, is the freedom of expression. It has been argued on the other side that all freedoms are about equal. However, without the freedom of expression, the freedom of religion and the freedom of assembly have less value if we do not have freedom of expression to go with them. This is the tool that all truly free and democratic societies use to push the societal norms.

Open debates in our society are not just necessary, they are imperative to having a healthy and free western democratic society. Open debates are what this place was built on. It is what our society was built on.

[Business of Supply, February 9th, 2012]

Madam Speaker, I was pleased to hear my hon. colleague from Halifax speak to this issue. I know my hon. colleague was a cabinet minister in the previous the Liberal government. This is clearly something that he feels very strongly about. He must have had briefings on this when he was in cabinet. Why was it that a Liberal government never undertook this then?

[Marketing Freedom for Grain Farmers Act, November 28th, 2011]

Mr. Speaker, as I stated in my speech, the 2008 Informa report clearly outlines the benefits to western Canadian farmers. In the Wheat Board committee, the working group took a look at about four other reports and tabled them. This is available if the member is truly interested in the benefits to western Canadian farmers. The Informa report said about $450 million to $628 million a year would be put directly into Canadian farmers' pockets. That is a tremendous amount of money for our farmers.

It is important to note that western Canadian farmers are asking to have both options, and that is what we are giving them. We are giving them the Canadian Wheat Board, the interim board that would be there, but we are also giving them marketing freedom. I fail to see how the member sees a downside to that.

Other than some little, hand-drawn chart that the member for Winnipeg Centre held up, the opposition has not shown us any proof that this would be detrimental to the western Canadian economy.

[Marketing Freedom for Grain Farmers Act, November 28th, 2011]

Mr. Speaker, the hon. minister is absolutely correct. The Minister of Agriculture and Agri-Food has done several outreaches, and our government has done many outreaches, to ensure that we had a smooth transition process moving forward.

I am very upset. The fact is that this could have happened a lot more smoothly, a lot more cohesively if, after we announced after May 2 that we would be moving forward with this, Mr. Oberg and the Canadian Wheat Board had helped facilitate the process rather than trying to burn the house down before they were out of it.

In fact, our government will continue to move forward with marketing freedom for western Canadian farmers because it is the right thing to do for western Canadian farmers and for our economy.

[Marketing Freedom for Grain Farmers Act, November 28th, 2011]

Mr. Speaker, it would be interesting to note that my position on the questions he asked has not changed.

The opposition, particularly that member, continues to stand and say the Wheat Board is going to be eliminated. It is not. The Wheat Board will still be in place for western Canadian farmers. What they will also have is marketing freedom. When they put in their crops, when they hope for rain and hope that they do not get hailed out, and then do all the work before winter comes to get the grain in their bins, some of them want to get paid that year. They do not want to wait a full year for the Wheat Board to pay them. Some of them want to access open markets so they can get better money. Some of them want to use the board as a risk management tool. This will all be available to western Canadian farmers.

It is not helpful for members of the opposition, for their own political purposes, to try to create fear in western Canada by saying that the board will be eliminated when, in fact, that is not true.

[Marketing Freedom for Grain Farmers Act, November 28th, 2011]

Mr. Speaker, I will be splitting my time with the member for Etobicoke—Lakeshore, the member who is also from St. Paul originally. We are proud to have him speak on the Canadian Wheat Board.

I would like to take a couple of minutes from my prepared text to respond to a couple of things that my hon. colleague before me talked about. In fact, there was a report done. It was one of about five that was brought up at the Wheat Board committee that said that western Canadian farmers would actually benefit by approximately $450 million to $628 million a year by gaining marketing freedom. That is not even taking the inefficiencies of the Canadian Wheat Board into account. That is not even talking about more jobs through value-added sectors. That is just talking about money that could potentially be in farmers' pockets. So just because the hon. colleagues across the way choose not to read the reports does not mean that they have not been done.

The other aspect I would like to point out is this is a very serious issue for western Canadian farmers. This is something that my producers in the Westlock—St. Paul region are counting on for August 2012. For hon. colleagues across the way to get up and ramble on about talking points that they use about government crime policy has nothing to do with jobs and money in the pockets of western Canadian farmers. I find that absolutely offensive.

In fact, I am not knowledgeable about a marketing fish board in Newfoundland, but if I were to vote on it in the House of Commons, I would definitely take the time to at least talk to some fishermen from Newfoundland.

I ask my hon. colleagues across the way, and there are going to be many western Canadian farmers here this week, to please take time and talk to them. Talk to them about what they see in opening up the Canadian Wheat Board and allowing farmers to have the option for marketing freedom while still keeping the Wheat Board in place for other farmers who want to use it.

I am honoured to speak to the bill. Our government's top priority is the economy in which the agriculture industry plays a vital role. We believe that all Canadians should be able to position their business to capture the marketing opportunities that are open to them. When passed, this legislation would provide western Canadian farmers with the same freedom and opportunities as other farmers in Canada already enjoy. That is the freedom to market their grain, based on what is the best for their business, to the buyer of their choice.

On October 18 the hon. Minister of Agriculture introduced legislation that aims to give farmers the right to choose how to market their wheat, durum and barley independently or through a voluntary Canadian wheat board. The marketing freedom for grain farmers act would give every farmer in western Canada the freedom to choose how to market their grain. Whether that is to a buyer who pays the full price on delivery, or through a pooled offer by the Canadian Wheat Board, our intention is to have this open marketing system in place for August 1, 2012.

However, as soon as the bill receives royal assent, it will allow farmers and grain companies to enter into forward contracts for the purchase or sale of wheat, barley, durum for the execution after August 1, 2012.

As we all know, nothing good ever comes easily. Change brings challenge, but it also brings a wealth of opportunity. Our government is working diligently with industry to make the road to an open market as smooth as possible, so farmers can capture as many of these opportunities as possible.

During our extensive consultations, industry has raised a number of valid issues around the transition process.

Over the summer a working group comprised of experts in the field met with a wide range of industry players. It heard a broad range of advice on how the grain marketing and transportation system could transition from the current CWB-run system to an open market that includes voluntary marketing pools and it released its report in September. The report does an excellent job of addressing the major transitional issues faced by the sector.

The group focused on a broad set of issues affecting the grain handling and transportation system including: access to elevators, rail and ports; access to producer cars and short lines; funding market development and research; price transparency; and tools for price discovery.

On the issue of access to port terminals, the working group examined this issue in some detail. It expects that grain companies will be actively competing for grain volume in an open market. Grain companies need volume and they have gone on record saying that they will offer access to get it.

Grain companies already offer handling services at ports to third parties that do not own elevators or port terminals, many of which are direct competitors.

There will be an adjustment, there is no doubt, but some producer groups are already showing they can compete and add value for farmers by forming alliances and synergies through the chain. For instance, some inland terminals are co-owners of the Alliance Grain Terminal in Vancouver, and others have relationships with line companies.

These commercial relationships provide a win-win situation. They benefit farm members. It is already happening and it will continue to happen under marketing freedom.

On the issue of rail access, our government knows that proper rail service remains absolutely vital to doing business.

That is why the working group recommended that the Minister of Transport, Infrastructure and Communities continue the implementation of the rail freight service review initiatives.

We recently announced the appointment of Jim Dinning to lead a facilitation process to enhance rail freight service. Mr. Dinning brings a depth of experience and expertise in building consensus among industry leaders and government.

I would add that the industry also welcomed this announcement. “We are pleased to see the action plan set in motion”, said David Nobbs, chair of Pulse Canada. Rick White, general manager of the Canadian Canola Growers Association said, “We are very pleased that the Government of Canada has taken steps to implement the first of four key recommendations, and we look forward to working with Mr. Dinning during the facilitation process”.

The facilitation process will bring together shippers, railways and other key players to develop a template for service agreements and a streamlined commercial dispute resolution process. This was one of the key aspects that our shippers asked for when the level of service review was first undertaken.

Once the facilitation process is complete, our government has committed to tabling legislative changes that will give shippers the ability to establish agreements with the railways, promoting more predictable and efficient services.

On the issue of producer cars, the right to producer cars is protected in the Canada Grain Act, and the Canadian Grain Commission allocates these cars to producers. This will not change under the marketing freedom act.

The Canadian Wheat Board monopoly has no bearing on access to producer cars and our government will continue to protect producers' interests.

Under the new rules, producers and short lines will be able to make commercial arrangements with grain companies or the voluntary Canadian wheat board to market their grain.

Short line railways are expecting some adjustments as they will have more options of marketing partners for the grain volumes they can attract from producers, but already we are seeing some exciting partnerships. In Saskatchewan, for instance, the province's 12th short line railway was announced just recently.

There is no question that producer cars and short line rail will continue to offer an alternative to those producers who wish to use them.

Marketing choice for western Canadian farmers is not just about keeping a promise to our base, a promise that we have been making for over 10 years to western Canadian farmers. It is about modernizing our grains and oilseeds industries as well as our rail sector, and helping farmers continue to drive our economy.

I come from a part of rural Alberta that has been blessed with some of the hardest working, most entrepreneurial people in all of North America, if not the world. The people of Alberta, but in particular Westlock—St. Paul, despise handouts. In fact, most of the time they just want the government to stay out of their way.

My Grandfather Storseth was a perfect example. He left Norway and was willing to work hard and take some risks to get ahead in Canada. He was a farmer who broke his land with his own hands. He also trapped to help provide a living for his friends and neighbours. It is interesting, even back in the 1950s farmers had to work off-farm to earn a living.

When World War II started, he enlisted, and when his time overseas was finished, he came home to his farm in Fort Assiniboine. He never expected the government to give him a handout, but he did expect the government not to regulate him out of existence, not to tell him to whom he could and could not sell his products.

This is not a unique story. It is the story of many rural Albertans. As I said, we are a hard-working people who know that agriculture has always been the backbone of our economy. When the oil and gas booms come, the agriculture sector is the steady hand that continues to feed our province.

The changes that the Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board is making in Bill C-18, the marketing freedom act, will help provide for that marketing freedom and will help provide a strong, stable economy.