Paul Martin

[Canada Development Corporation, April 6th, 2000]

Mr. Speaker, first of all the purpose of the ethics counsellor's report is to determine the very question the member has raised. I was the person who asked the ethics counsellor to undertake that full examination.

As far as access to information is concerned, I mentioned yesterday that I was not involved in that for obvious reasons, given the nature of the query. I have asked my department to do a thorough examination of the whole matter, and at the same time, in order to make sure it is as open and transparent as possible, my department has invited the information commissioner to come in and participate fully.

[Health, April 6th, 2000]

Mr. Speaker, next year transfers to the provinces will be $31 billion. That is an all time high. Transfers in terms of equalization will be at an all time high.

The fact is that this government put a floor under the transfers to make sure that they would never drop further, a drop which had occurred under the previous Tory government. At the same time, this government has invested amounts in health care research that the Tory government could not even contemplate. We have put money into the child tax benefit, helping poor and middle income families.

These are all things that the Tory government let lie fallow and this government—

[Canada Development Corporation, April 6th, 2000]

Mr. Speaker, it is my understanding that the ethics counsellor will be releasing his report in the very near future. I have asked, and I understand that all pertinent documents will be made available as part of that report.

[Health, April 5th, 2000]

Mr. Speaker, when the ethics counsellor submits his report, we will make all documentation available. All pertinent documentation will be submitted.

[Stock Markets, April 5th, 2000]

Mr. Speaker, that implies that an exact delineation of the nature of those loans for that purpose could be made, which might be more difficult than one would think. The hon. member knows that I am not in a position to comment on interest rates, that finance ministers do not do that.

If we look at the reasons for which interest rates rise or fall, this would have to be a relatively minor part of any consideration that a central bank would take into account.

[Stock Markets, April 5th, 2000]

Mr. Speaker, yes, I can assure the hon. member that our financial situation is sound. In fact, it is my understanding that quite some time ago financial institutions began to cut down on margin loans. Obviously there are individual investors who may well find themselves in a difficult situation, but I can assure the hon. member that the system, the structure and the financial institutions are sound.

[Canada Development Corporation, April 5th, 2000]

Mr. Speaker, Connaught was a subsidiary of a subsidiary of the CDC. Also there were joint ventures involved.

If the hon. member had sat on boards he would understand that it is quite conceivable that kind of thing might or might not have come about. The fact is that the whole matter has been referred to the ethics counsellor who has conducted a thorough investigation. We are all looking forward to his report.

[Canada Development Corporation, April 5th, 2000]

Mr. Speaker, it is my understanding, and I would ask the hon. member to verify this with the ethics counsellor, that the ethics counsellor will make all documentation available when he makes his report.

[Canada Development Corporation, April 5th, 2000]

Mr. Speaker, for obvious reasons as the ethics counsellor continued his investigation into this matter I was not informed and was not kept up to date.

Therefore, I really cannot answer the question except to say to the hon. member the documentation that was largely existing in the finance department was not of a kind that would convey any such information. That is why the investigation had to go beyond the finance department into a whole series of other government departments and agencies.

[Canada Development Corporation, April 5th, 2000]

Mr. Speaker, the CDC was a government owned corporation. It was a corporation as well that was involved with the Department of Finance, the Department of Industry and a number of government departments throughout the eighties, long before this government took office.

Because the company involved was a subsidiary of a subsidiary of the CDC, companies which had been sold, in order to find those minutes an exhaustive investigation was required, which I believe is still ongoing but I believe now very close to completion.

The Department of Finance was one of the departments that was involved but it was all handled by public servants.