John Carmichael

[Business of Supply, October 2nd, 2012]

Mr. Speaker, the member talked about opposing opinions. Clearly, the opinion of the NDP is to oppose trade at all levels. We have seen this for the past session.

It is important to note that this is not a particularly hostile takeover. In fact, the board of directors and the acquirer were in agreement on the deal at which they arrived. It is now our responsibility as a government to ensure it is a benefit to the nation. That is what our Minister of Industry will be doing.

I would like to quote a senior executive officer of one of the largest mining companies in the country, who said that he was not surprised at the divided opinion on the merits of the takeover among both executives and the public.

It is natural for Canadians to be opposed to deals that are driven by state-owned companies...that potentially don't allow Canadians reciprocal rights.

This is obviously something we want to see happen. However, he said:

I don't support government intervention in any business.

He noted that Nexen has only 25% of its assets in Canada and that CNOOC will be keeping most of Nexen's head office functions in Calgary. In addition, he said:

Nexen wasn't exactly performing all that well, and it looks like [CNOOC] is willing to put some capital into the company and have it grow.

[Business of Supply, October 2nd, 2012]

Mr. Speaker, my colleague from Burlington did an outstanding job of presenting his arguments.

I wish to speak very briefly about this important topic that has relevance to all Canadians and for future generations of Canadians.

Foreign investment, the Canada Investment Act and Canada's economic prosperity are all closely linked. Our government has engaged with Canadians and with Canadian companies to hear directly from them what is of most pressing importance. At all times, we have heard the same thing. It is the economy, employment and how to make Canada a better place for businesses to grow and succeed.

Our government has focused on the economy with our economic action plan. We are ensuring that Canada's economic foundation remains strong. Despite the economic downturn of the past few years, we continue to lead the developed world. Canada is a premier destination for investment.

Our government has taken the necessary steps to ensure Canada continues to attract investment that promotes economic growth, job creation and prosperity for hard-working Canadians. We recognize foreign investment creates many benefits for Canada. For example, investments often result in new technologies being adopted in Canada. We all know technology is linked to increased productivity.

Our government has been a strong supporter of science, technology and research. We know these are the key building blocks of innovation. We know science powers commerce. We also know that to continue to be successful, Canada must drive product and service innovations into every corner of our economy.

Foreign investment increases the amount of research and development conducted in Canada. In 2010 nearly 15% of business expenditures on research and development in Canada came from foreign investment. Therefore, foreign investment is important to Canada because it helps to support and improve our economy and, most important, create jobs for Canadians.

At the same time, Canada does not exist in a vacuum. Canada must compete in a globalized economy, and that world is changing quickly.

While Canada has led the developed countries since the economic downturn in 2008 due to our government's careful stewardship of the economy, new challenges are emerging. Economic powerhouses in Asia and Latin America have stepped onto the world stage and have taken up leading roles. In addition, the economic rise of Asian countries is well-known. These new emerging powers are both targets for investment and sources of investment. Canada must both compete with them to attract investment, while at the same time try to attract investment from them.

The Investment Canada Act was established to encourage investment in Canada that would contribute to economic growth and provide for the review of significant investments in Canada by non-Canadians in order to ensure such benefit to Canada. The act was brought into force in 1985 to liberalize the foreign investment review regime, which had seen the precipitous drop in inward investment. The Investment Canada Act replaced the Foreign Investment Review Act, which was in place from 1973 to 1985. The Trudeau era FIRA process was not well-received and it did not do a very good job at helping Canadians attract investment. Given the foreign investment review act process, Canada's image as an attractive investment destination was in fact damaged.

After 1977, there was a sharp reduction of direct foreign investment and an outflow of capital from Canada. The 1982 recession further weakened the support for the Foreign Investment Review Act. By 1983, it was clear that the act was due for major modifications.

The Investment Canada Act replaced the foreign investment review act and with that marked a shift in purpose. Recognizing the beneficial effects of increased capital and technology on the economy, the Investment Canada Act encourages investment in Canada that contributes to economic growth and employment opportunities. The act distinguishes between investments in cultural business and other investments. Since June of 1999, the Minister of Canadian Heritage has been responsible for the notification and review of investments in cultural businesses. The Minister of Industry is responsible for all other investments and for general administration of the Investment Canada Act itself.

Canada's foreign investment policy has been one of continued liberalization. Our government has built on this by introducing legislation to increase the monetary threshold before reviews occur and removing some sectoral limitations. At the same time, recognizing the global security context, our government introduced guidelines for the review of investments by state-owned enterprises and rules for screening investments for national security concerns.

With respect to foreign investments, our government has a sound process in place to ensure they benefit Canadians. Earlier this year, we introduced targeted amendments to the Investment Canada Act that provide greater transparency to the public, more flexibility and enforcement, and an alternative to costly and time-consuming litigation.

Prior to those changes, in 2009, the government made amendments to the Investment Canada Act to provide the minister responsible flexibility to provide more information to Canadians on the review process directly. The government's focus is to make sure the Canadian economy remains competitive and productivity gains are achieved.

Sound policies and a world-class climate for business are essential for making Canada a prime destination for investment. To that effect, our government sets policy priorities that reflect this view. We create programs that support strong innovation, we put in place a globally competitive industrial policy and we support an attractive business environment that promotes and rewards entrepreneurship. Just as important, we must lead by example so that Canadian businesses are welcome investors in foreign countries, allowing them to expand their operations into new markets and to compete successfully with the best in the world.

[The Economy, September 28th, 2012]

Mr. Speaker, Statistics Canada announced today that Canada's economy grew again in July. July's economic growth and the nearly 770,000 net new jobs created since July 2009 are positive signs.

While we are focused on growing the economy and creating jobs, the NDP is pushing radical economic schemes, like a massive carbon tax.

Could the parliamentary secretary explain the devastating impact the NDP's carbon tax would have on our economy?

[Hockey Summit Series Anniversary, September 28th, 2012]

Mr. Speaker, it was 40 years ago that Canadians from coast to coast to coast gathered around their televisions to watch the most significant international hockey tournament ever. It was not just a battle of two of the world's best teams, it was a battle of cultures and an unprecedented look behind the Iron Curtain.

Before Crosby scored in Vancouver, and Lemieux scored in the Canada Cup, it was Foster Hewitt's call of “Henderson scores” that defined Canada as a hockey superpower. It is the single most important goal in Canadian history. Today marks the 40th anniversary of that goal.

Paul Henderson will be etched forever in history as a great Canadian hero. Today, my colleagues and I celebrate and congratulate him and all of his Team Canada alumni as they mark this anniversary.

[Sport, September 27th, 2012]

Mr. Speaker, in 2015 Canada will again play host as Toronto welcomes the Americas to the Pan American and Parapan American Games.

Can the Minister of Natural Resources please tell the House how our government plans to ensure that our world-class athletes have access to state-of-the-art facilities both during and after these games in Toronto?

[Helping Families in Need Act, September 27th, 2012]

Mr. Speaker, clearly this bill demonstrates the compassion in the House. I applaud all that I am hearing this morning. There appears to be cross-party agreement that this is a good bill. I also want to applaud my colleague for his vision, work, and persistence in the development of this bill, something I know he has had in his heart for a long time. I applaud him for seeing it through.

I would like to ask the hon. member a question with regard to the 35 weeks of EI benefits. Would he speak in a little more depth about the help it would provide to parents of critically ill children in balancing their family and employment obligations?

[Queen's Diamond Jubilee Medals, September 20th, 2012]

Mr. Speaker, volunteers are the lifeblood of every community. On Sunday, September 9, I had the opportunity to recognize 30 outstanding volunteers from across my riding of Don Valley West when I presented them with the Queen Elizabeth II Diamond Jubilee Medals.

These 30 community leaders represent a wide range of volunteer activities, from leading residents' associations to organizing and coaching minor baseball and soccer programs for our kids; to planting trees and cleaning and maintaining our parks and ravines; to collecting food and clothing on behalf of our local food banks and social service agencies; to spearheading community infrastructure projects, like building a new arena and a cricket pitch; and fundraising for hospitals and arts organizations.

Each of the 30 medal recipients, who represent the essence of volunteerism, helps to make Don Valley West a better place to live.

[Jobs, Growth and Long-term Prosperity Act, June 18th, 2012]

Madam Speaker, I have had the opportunity to hold quite a number of sessions with seniors in my riding to discuss this issue. Seniors hear our news. They talk to their friends. They hear the information that is coming from the other side and they become terrified that their economic security is going to go away. That is not the case. That is not what--

[Jobs, Growth and Long-term Prosperity Act, June 18th, 2012]

Mr. Speaker, this government did its job in recruiting consultation and input on the bill, whether it was through the Red Tape Reduction Commission or the hours of study that went into the consultation process. Finance committee and a special subcommittee studied this bill for nearly 70 hours. That is the longest consideration of budget legislation in committee in decades and likely ever.

It is one thing to try to extrapolate an arbitrary number. The reality is that 70 hours of consultation went into the bill. There were 70 hours of solid input. This government has done an exceptional job in bringing the right bill to the House.

[Jobs, Growth and Long-term Prosperity Act, June 18th, 2012]

Mr. Speaker, that is a good question. There has to be serious consultation and consideration in every one of these cases. Short-circuiting for the sake of short-circuiting is not the answer.

The Red Tape Reduction Commission reviewed a number of avenues by which redundancy occurred and impeded the development or the sale of products over the counter in the health care system. My understanding is that the commission achieved a reduction in redundant costs and redundant steps in processes that keep the appropriate medications from getting to market on time and on budget.