Liberals not doing enough to protect our national economic interest
After 8 years of the Liberal Government, numerous foreign state-owned enterprises have acquired interest and control in many Canadian companies, intellectual property, intangible assets, and data of our citizens. This government is doing too little too late to protect our national economic and security interests with Bill C-34 National Security Review of Investments Modernization Act.
Liberals don’t take sensitive transactions seriously and have failed to fully review transactions involving Chinese state-owned enterprises, putting the security and material interest of Canadians and the government at risk.
While conservatives agree with the general principles of this bill, it doesn’t go far enough to address the risks faced by Canadians. That’s why Conservatives worked to pass four significant amendments aimed at providing a more rigorous review process of acquisitions of businesses and assets from foreign state-owned enterprises.
Conservatives could have improved this legislation further had the NDP-Liberal government not rejected ten notable conservative improvements to this legislation.
Conservatives will work to improve this bill even further by deleting clause 15 when the bill is next debated in report stage. This will ensure we return to cabinet decision making rather than the Minister only as a part of the investment review process.
Consult the official Handsard transcript.