IN THE HOUSE ~ Question - will new rules around foreign investment be in place before decision on CNOOC takeover of Nexen?

41st Parliament, 1st Session ~ Supplementary Question

Mr. Peter Julian (Burnaby—New Westminster, NDP): Mr. Speaker, after their gross mishandling of the Petronas decision, the Conservatives are now saying that more clarity is needed in the Investment Canada Act. This is just days after
they stated emphatically that no more clarity was needed at all. This is why
investors and so many others are losing confidence in the government. The
Conservatives just seem to be confused and improvising. But now that they have
admitted that the NDP was right all along and clarity is needed, there are
serious concerns about CNOOC and the deadline is looming.

Will the Conservatives put in place new rules before the decision on the CNOOC takeover of Nexen? Canadians deserve that.

Hon. Christian Paradis (Minister of Industry and Minister of State (Agriculture), CPC): Mr. Speaker, with regard to the CNOOC proposed transaction, I reiterate to my colleague that this transaction will be scrutinized very closely. We will have to make sure that it provides a net benefit for Canada. All decisions by this government will be taken in the best interests of Canadians.