IN THE HOUSE ~ Question ~ When will there be clarity and transparency on the foreign takeover review process?
October 22nd, 2012 - 6:30pm
41st Parliament, 1st Session ~ Context : Question
Mr. Peter Julian (Burnaby—New Westminster, NDP): Mr. Speaker, an arbitrary decision made behind closed doors at midnight on Friday is no way to run an economy. Canadians deserve better than that. Canadians are asking if they are going to be as arbitrary on the CNOOC proposal to take over Nexen. Canadians
want transparency and accountability on foreign takeover applications. The
Conservatives are mismanaging multi-billion dollar issues. They have broken
promise after promise.
My question is simple. When will there be clarity and transparency on the foreign
takeover review process? Why do they not talk to them?
Hon. Christian Paradis (Minister of Industry and Minister of State (Agriculture), CPC): Mr. Speaker, the member should know that article 20 in the law contains factors for evaluating net benefit.
As I said, I told the investor that I was not satisfied that the proposed transaction was going to provide net benefit for the country. That being said, the investor has
30 days from the decision to make additional representations.
Our government welcomes foreign investments that are in the best interest of the
Mr. Peter Julian (Burnaby—New Westminster, NDP): Mr. Speaker, no answers, no clarity, this is no way to run an economy. Their mismanagement is making investors and the public lose confidence in the government. There, they can join the crowd. The Premier of B.C. has also lost confidence and is concerned now that Conservatives are looking at using the disallowance power of the federal
government to revoke B.C. laws. This has not been invoked since 1943.
Is the government so out of touch that it thinks it can ram through Northern Gateway over B.C. objections? When will Conservatives start listening to the province, to First Nations and to British Columbians?
Hon. Joe Oliver (Minister of Natural Resources, CPC): Mr. Speaker, the Northern Gateway Project is currently before an independent joint review panel which will review it on the basis of independent science. We look forward to hearing its recommendations.
In the meantime, our government continues to enhance environmental protection,
pipeline and maritime safety and aboriginal consultations.