Net benefit test needs immediate clarification

Net benefit test needs immediate clarification

In the wake of the Conservatives’ approving a transaction of limited benefit to Canadians, New Democrats are calling on the House of Commons to direct the Conservatives to honour their two-year-old promise and update the Investment Canada Act.

 The NDP opposition motion put forward by NDP Natural Resources critic Peter Julian calls on the government to lay out specific net benefit criteria, improve the transparency of decisions and to require public consultations on changes to the Investment Canada Act.
 “The Conservatives rubber stamped a deal that leaves the Canadian economy vulnerable to foreign government interference, in secret with no public consultation,” said Julian. “This is unacceptable and we need immediate action on the Investment Canada Act to ensure that this doesn’t happen again.”
 The NDP motion reads:
That this House agrees with the Calgary Chamber of Commerce, which is asking the government to : clarify the net benefit test; include parameters around reciprocity; improve the transparency of decisions; and set specific criteria for state-owned companies to meet net benefit requirements in order to protect the Canadian economy from potential foreign government interference and calls on the Government to hold a full and public consultations on the proposed guidelines announced by the Prime Minister on December 7, 2012 and previously promised changes to the Investment Canada Act.