The NDP can't see the foreign takeovers for the trees

Click on image to enlarge

Here is a very telling exchange in Question Period yesterday between the NDP and the minority Conservative government that touches on transparency and the foreign takeovers that have overwhelmed this country over the last three years, and continue unabated. The NDP don’t realize what hypocrites they are making themselves appear as in their stated concerns about foreign takeovers, in light of the fact that the NDP required NO PROOF and received NO PROOF of Flaherty’s assertion that income trusts cause tax leakage, which we all know to be a manufactured falsehood cooked up by Mark Carney to justify a policy that has been DIRECTLY responsible for over $100 billion of foreign dominated takeovers that has depleted Ottawa’s tax base by $1 billion a year that will grow to $7.5 billion a year, if the NDP continues to keep their blinders on. Talk about “rich” on both sides of the House.....check this out:


Hon. Vic Toews (President of the Treasury Board, CPC):
Mr. Speaker, that is rich coming from a member who was part of the government that consistently opposed the release of information to the public.

It was this government that released information from many of the boards and commissions that the Liberal government refused to release. This has been the most open government in the history of Confederation and our government is committed to ensuring it remains that way.


Mr. Brian Masse (Windsor West, NDP):
Mr. Speaker, that was a little bit too rich for me.

Canadians have been watching with concern as so many Canadian-owned companies are bought up by foreign firms [such as Prime West Energy Trust by Abu Dhabi Energy or TransAlta Power by Hong Kong billionaire Li Ka Shing or the LBO of BCE by Providence private equity that would have turned Canada’s largest Telco into an insolvent and defaulting phone company with consumer rates going through the roof, to name but three of the adverse consequences of Flaherty’s tax leakage fraudulent argument policy]. Now Nortel is joining the list, forced to sell off parts of its company to foreign interests.

Instead of acting in the national interest, the government loosens foreign investment rules and encourages a hauling out of our industries and then watches idly by as Canadians are sent home, fired from their jobs. Canadians know it is being sold off to foreign companies, but this knowledge belongs to us, the Canadian taxpayers.

When will the minister live up to his responsibilities, act in the national interest and protect Canadian jobs?

Hon. Tony Clement (Minister of Industry, CPC):
Mr. Speaker, in fact, this company has gone through a court-managed process because it has sought protection under the CCAA. That process is ongoing and should not be interfered with by the Government of Canada.

Our Investment Canada laws have recently changed. They have a national security provision in them so that we can defend our national security interests, but this is a country that also must trade with the world. We must be open for business. That is how we get jobs and opportunity here, as well as through our own domestic competitiveness.

The NDP fails to understand that year after year.

Mr. Paul Dewar (Ottawa Centre, NDP):
Mr. Speaker, the minister forgets how to protect business and protect the market.

The great thing about the open market is that it will adapt and change the rules. Nortel Networks has been providing opportunities for hundreds of years. Now we hear Tundra Semiconductor is going south. Those are jobs going south and lost. The high tech sector has created thousands of jobs across the country and right here in Ottawa, but the government has failed to provide support.

Will the minister intervene, support good jobs and support a vital sector? Will he show us his--[proof of tax leakage?]