David Lametti

[Canada Business Corporations Act, April 6th, 2017]

Mr. Speaker, I am pleased to rise today in support of Bill C-25, an act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act.

Our government sees inclusive innovation as a Canadian value. That is why we spent all of the summer of 2016 consulting Canadians on our innovation and skills plan in order to gather ideas on how we can help position Canada as a global centre for innovation.

When we come together in our community, in the workplace, or on a board of directors, our diversity and our experiences are what bring unique ideas to the table.

I want to begin by highlighting the important work that was done during the committee review stage for Bill C-25. The committee made one amendment that is important to note because it speaks to diversity, which is at the heart of the bill. A review element was included to allow a government to come back to the bill and ensure that diversity is upheld in the spirit in which it is cast in the bill, so there is a five-year review period precisely for that reason. I want to thank members of the committee for that work they did.

I want to commend the efforts of my colleagues who sit on the committee and who brought forward this progressive addition to Bill C-25. By bringing more voices to the table, Bill C-25 would help to make another important step toward diversity.

Several studies have shown a link between diversity on boards, particularly gender diversity, and strong financial performance, heightened innovation, and enhanced client insight. For instance, in March 2016, the International Monetary Fund released its research of European firms, which demonstrated that there was a higher return on investment when there was a larger share of women in senior positions.

Some studies have also reported that, by considering diversity and new skills, corporations were able to outperform and out-innovate other companies. Why is that? It is because, when different views are heard around the decision table, it creates a place where innovative ideas can emerge.

In Canada, most provincial securities regulators have adopted rules to require listed corporations to disclose the gender representation of their boards, and senior management to disclose their policy for promoting gender diversity or to explain why they do not have such a policy.

Bill C-25 would build and expand on these existing initiatives to support diversity on boards and in senior management as a good corporate governance principle. The bill would require the Canada Business Corporations Act corporations—corporations registered under the CBCA—to disclose diversity information such as the diversity composition of boards and senior management. Corporations would also have to disclose their diversity policies to their shareholders or to explain why they do not have diversity policies. Hence, it is comply or explain.

If we do not make the most of all the diversity and the quality of our talent pool to guide our Canadian businesses, come up with creative ideas, and foster innovation, investors, our ability to compete, and the Canadian economy overall will suffer the consequences.

Whether they are small, medium-sized, or large, companies are a powerful engine of economic growth. Throughout their lifecycle Canadian businesses are a key source of innovation and employment, which helps improve Canada's standard of living and economy.

It is vital that companies continue to pave the way by creating a culture of diversity and innovation. Bill C-25 will help government and businesses work together to foster diversity and entrench innovation in their business strategies.

I would like to end my speech by pointing out that the last significant amendments to the Canada Business Corporations Act were made in 2001. The time has come for the act to reflect modern principles of corporate governance that are in line not only with changes in the marketplace, but also with the modern economy. These amendments foster inclusive innovation, diversity, and a strong and prosperous Canada.

[Canada Business Corporations Act, April 6th, 2017]

Mr. Speaker, I thank my hon. colleague for his speech and I would like to ask him a question.

We have seen the procedures during committee meetings. First, is the bill itself a positive step? Is the requirement that the bill be reviewed after five years to determine whether it was effective also a positive step?

[Role of Co-operatives, March 24th, 2017]

Mr. Speaker, it is with pleasure that I rise today to speak in support of Motion No. 100, which was put forward by my colleague, the member for Brossard—Saint-Lambert. I want to applaud my friend for the hard work she has done in regards to this motion, and add that my riding, LaSalle—Émard—Verdun, is home to many co-operatives.

I also want to take a moment to acknowledge the work previously done by our late colleague, the Hon. Mauril Bélanger. He worked tirelessly for Canada’s co-operative sector to establish the all-party caucus on co-ops. His hope was that all-party awareness will, one day, translate into full support for Canadian co-operatives across this country. This motion seeks to recognize the significant impact of Canada’s co-operative sector and take steps to ensure it continues to thrive.

Today, I want to talk not only about the success of co-operatives in this country but also to highlight ways that this business model can be used to directly address a number of important government priorities.

There are approximately 9,000 co-operatives and mutuals in operation in Canada. They exist in all provinces and territories, in urban and rural areas, and in all sectors of the Canadian economy. These flexible and innovative organizations create employment opportunities for some 190,000 Canadians.

Co-operatives can be divided into two groups. The first group consists of financial co-operatives, and these include deposit-taking credit unions, caisses populaires and mutuals involved in life, property, and casualty insurance. There are more than 650 of those co-operatives, serving over 11 million Canadians. Second, the non-financial co-operatives, which count an estimated 8,000 organizations. The second group, non-financial co-operatives, counts an estimated 8,000 organizations. They operate in all sectors, from agriculture and retail to health care and social services, from professional services and manufacturing to high-speed broadband and clean energy.

The co-operative model also has a strong track record in providing social, economic, and environmental benefits to Canadians, demonstrating that this collective entrepreneurship business model can work on behalf of everyone. It is an inclusive business model that allows citizens in communities across the country to come together to address common economic, social, environmental, or cultural needs. In essence, co-operatives are examples of democracy at work. Plus, as anyone in the co-operative sector will remind you, these organizations are incredibly resilient and often demonstrate an ability to thrive even during challenging economic times.

Further to this idea, the Minister of Innovation, Science and Economic Development has been leading the development of Canada’s Innovation Agenda. We see Canada’s co-operatives as important players in the implementation of this agenda. This agenda aims for a sustainable path to growth.

Canada is competing against leading nations in a race to grow talent, technologies and companies. At its core, the Innovation Agenda is about ensuring that all Canadians have the opportunity to benefit from a growing economy.

Whether it is about identifying ways for Canadians to acquire the skills and experience required in the global economy, harnessing the potential of emerging technologies, or encouraging more Canadians to start and grow businesses, there are a number of emerging opportunities for Canadians, communities, the co-operative sector and this government to tap into the potential of the co-operative model.

Co-operatives have obvious links to particular areas of the Innovation Agenda including clean technologies, women and youth entrepreneurship, and indigenous economic development. As well, the model itself provides important lessons on how to innovate in today’s economy. In fact, according to a 2014 study, Canada’s co-operatives are demonstrating product, process, organizational and marketing innovation at a rate higher than traditional SMEs.

Like all small and medium-sized businesses, co-operatives are fundamental to creating jobs across Canada. With co-operatives operating in a number of key areas of the Innovation Agenda, the potential exists to identify actions to accelerate co-operative economic development and job creation in key sectors such as social enterprise, encouraging a transition to a low carbon and clean economy, indigenous economic development, and women and youth entrepreneurship.

Given their proven track record and their history of innovation, not only at the community level but also on an international scale, co-operatives are well-positioned to be key players in the future of innovation in Canada. The co-operative model also has the potential to be an important lever for promoting indigenous economic development. This is because of an indigenous focus on community participation, consensus decision-making, and addressing community challenges holistically.

There are an estimated 120 indigenous co-operatives currently in operation in Canada including a large retail distribution network in the North which has expanded into multiple business lines. Given the ability of co-operatives to combine both social and economic objectives, they are also actively engaged in the development of the social innovation and social finance ssoutetrategy led by Employment and Social Development Canada.

The consultation on the development of Canada's national housing strategy has also highlighted the importance of the co-operative housing model in terms of increasing access to affordable places to live. In budget 2017, the government announced additional details about the inclusive national housing strategy, which will be a roadmap for public administrations and suppliers of housing across the country when they decide on the best way to support the renewal of housing in their communities.

I would now like to talk about some of the support the government provides to help co-operatives thrive and continue to provide important economic benefits to Canadians.

Government programming aims to ensure that co-operatives have equitable access to business supports and that they are well-positioned to contribute to business and community needs.

The regional development agencies provide financial support to co-operatives through a range of programs and services for start-up, growth, and expansion, with over $51 million provided in the last 10 years.

In conclusion, I would like to thank my colleague for coming forward with this motion and helping to shine a light on the important role co-operatives are playing in Canada’s economy. This government strongly supports Motion No. 100, and we look forward to working alongside members in the House to explore ways in which this innovative business model can help address the priorities of Canadians.

[Telecommunications, March 24th, 2017]

Mr. Speaker, I thank my hon. colleague for his question. In the digital world, access to broadband service is essential to everyday activities, to work, and to staying competitive. For people in rural and northern regions in particular, high-speed Internet opens up a world of economic opportunity. Earlier this year, we announced the connect to innovate program, which will invest up to $500 million between now and 2021 to bring broadband Internet access to 300 of Canada's rural and remote communities.

[Cabane Panache et Bois Rond Festival, March 24th, 2017]

Mr. Speaker, this weekend I will be in my riding enjoying a sweet treat at the annual sugar shack spring event in Verdun, the seventh Cabane Panache et Bois Rond.

For four days, 80,000 hungry visitors will be on Wellington Street, known to the people of Verdun as “the Well”, sampling the maple treats and celebrating our Quebec producers and local merchants.

The history of the maple syrup season precedes the arrival of the settlers in Quebec. The first nations discovered maple sap, a sort of sugar water that flowed from these trees. Centuries later, the sugaring tradition in Verdun is celebrated by the largest urban sugar shack in Montreal and perhaps the world.

Families, friends, and visitors, I will see you on “the Well”.

[The Budget, March 23rd, 2017]

Mr. Speaker, I thank the hon. member for Newmarket—Aurora for his work on trade and his interest in innovation.

It is a great budget for Newmarket—Aurora in terms of innovation. Through our innovation and skills plan, we will create jobs, we will help our companies and our economy and citizens thrive in a rapidly changing world.

That same innovation and skills plan also aims to help 10,000 more young Canadians to get the skills and training they need in today's economy through work integrated learning and co-ops.

There are $1.26 billion in a strategic innovation fund that will create a one-stop shop and a more efficient and coordinated way for us innovate.

[Foreign Investment, February 24th, 2017]

Mr. Speaker, I will repeat what I just said. Our government is open to investments that create middle-class jobs and assure economic growth and long-term prosperity for Canadians. Cedar Tree's application to acquire Retirement Concepts was approved under the Investment Canada Act, whose criteria ensure that this is a good thing for British Columbia and a good thing for Canada.

We have guarantees from the company, and we will be going forward.

[Foreign Investment, February 24th, 2017]

Mr. Speaker, once again, I will answer that very same question from the member. Our government is open to investments that create jobs, maintain jobs, and assure growth and long-term prosperity for Canadians.

The application of Cedar Tree to acquire Retirement Concepts was subjected to a level of scrutiny according to the Investment Canada Act. The company has committed to investing in the future in the expansion of the business, in addition to maintaining current levels of employment, part-time and full-time, and in addition to maintaining the current Canadian manager of the retirement home.

[Foreign Investment, February 24th, 2017]

Mr. Speaker, again, I would like to point out to the hon. member that among the commitments Cedar Tree has made is to invest, precisely, in the future in Canada. In addition, it is maintaining current levels of full- and part-time employment, and it has undertaken to maintain its current Canadian operator, Retirement Concepts.

The Investment Canada Act is in place precisely to ensure that when we make these kinds of decisions, we do it in the best interests of all Canadians. We have applied those principles this time, and it is a good deal for British Columbia.

[Foreign Investment, February 24th, 2017]

Mr. Speaker, once again, it bears repeating that our government is open to investment that creates and maintains jobs, that creates growth, and that assures the long-term prosperity of Canadians.

The application by Cedar Tree to acquire Retirement Concepts was approved under the Investment Canada Act precisely because the investment will result in a net economic benefit to Canada.

As I have just pointed out in the answer to the previous question, there are guarantees for seniors, there are guarantees for the ongoing Canadian management of the enterprise, and it is good for Canada.