Economic Action Plan 2014 Act, No. 1

Elizabeth May: Mr. Speaker, my hon. colleague started her speech by saying she represented the people of Renfrew—Nipissing—Pembroke and was bringing their concerns to the table.

This is a list of the people, and I am sure there are many in her riding, who would be affected by FATCA. It is far more than U.S. citizens. According to a legal expert, it would apply to Canadian citizens who are also U.S. citizens; Canadian citizens born in the U.S. who thought they lost their citizenship; Canadian citizens born in the U.S. who have lived their whole lives in Canada, having come here at maybe six months old; Canadian citizens with green cards; Canadian citizens who physically spend a certain amount of time in the U.S.; or, Canadian citizens sharing financial accounts with U.S. persons, for example one who is married to or shares a business venture with a U.S. person.

This is why it is estimated that approximately one million Canadians will be affected by FATCA.

Does the hon. member for Renfrew—Nipissing—Pembroke have some concerns for those constituents within her riding?

Cheryl Gallant: Mr. Speaker, the residents of Renfrew—Nipissing—Pembroke who pay their taxes, who are not hiding money, do not have to worry. They are in touch with my office and we are helping them through this.

However, let me tell some more facts. AECL is a key player in the global non-proliferation and de-proliferation efforts by doing the following:

—increasing the need for alternatives to highly-enriched uranium. As part of the Global Threat Reduction Initiative’s goal to reduce and protect vulnerable nuclear and radiological material located at civilian sites worldwide, AECL leads the development of a uranium molybdenum dispersion fuel….U-Mo is a high density fuel which allows the use of low enriched uranium to achieve the same fuel equivalent as some highly enriched fuels.

 

And the spent fuel is much cleaner as well.

Therefore, not only are we doing great things in medicine and producing economical, sustainable, clean energy for electricity, but we are helping to keep the world a safer place.

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