Foreign Investment (B)

Elizabeth May: Madam Speaker, obviously the hon. member would understand that when one says “close quote”, I am closing the quote around the part of the Canada Gazette that I was able to read. In the 30 seconds that I had to pose a question in question period, I did not read the remainder of that quote. He is quite right, that is what it says.

The point is that these were expert recommendations following a substantial review involving experts in the Investment Canada Act, both how we would respond to competition and how we should respond to national security. The reality is, contrary to what the minister said, when he said that they improved transparency, there is no transparency.

Yes, I have reviewed the entire Investment Canada Act. I do not need to look at the member’s BlackBerry but I appreciate his offer. The reality is that we have let down our defences. We are, in the words of former defence experts, sitting ducks.

The question remains. If they cannot define “national security”, do not have concrete objectives and do not subject sales of oil sands and uranium to a national security review, how on earth can they claim that they are protecting the national interests?

Mike Lake: Madam Speaker, the member knows that our government supports foreign investment that benefits Canada. We will continue to support an Investment Canada Act that encourages foreign investment into our country. Foreign investment contributes a significant amount to our economy, connects our firms to the world and creates high-paying jobs right here at home in almost every important economic sector.

Members also know that when the government believes that undertakings are not being respected, we will act to protect Canadian interests. We have done it in the past and we will continue to protect our interests in that fashion.

Moreover, while we continue to take steps to encourage foreign investment, we also took steps in 2009 to put national security provisions in the Investment Canada Act regulations. As I mentioned earlier, those regulations have been in place since 2009 and the member can read those regulations in full at