Mr. Speaker, I listened to the Conservative position. The government's position is that it will sign a trade agreement, that it will be able to extract resources from Panama, and that somehow, the world will be better, but it will not ask for any firm commitments.
I want to go back to the issue of the tax havens and Panama's very dodgy and secretive banking record, especially given how much narco-money is moving around and being laundered in that part of the world.
The Public Citizen, out of the United States, in its trade campaign said that it is critical that any free trade agreement with Panama “must be conditional on the country's government eliminating excessive banking secrecy, re-regulating its financial sector, forcing banks and multinational subsidiaries to pay taxes, and signing international tax transparency treaties,” such as exist in the United States, “which Panama has thus far refused to do”.
We hear the Conservatives talking out of both sides of their mouth.
The government was in the process of deregulating our banking sector and was caught by a massive recession. Fortunately, because of New Democrats' efforts through the years to stop them from deregulating the banking sector, we still actually have banking rules. Now we hear the laissez-faire minister of the economy go on and on about how we have a regulated banking sector.
Why does the member think the government is saying that it is perfectly okay to sign onto deals with a country that has absolutely dodgy banking practices?