Harper would relax foreign ownership rules TheStar.com - Federal Election - Harper would relax foreign ownership rules
September 12, 2008
Bruce Campion-Smith
Ottawa Bureau Chief
HALIFAX — The Conservatives are proposing to open up the Canadian economy to more foreign investment and want to relax restrictions on foreign ownership of the airline industry and uranium mining.
"We will significantly increase the threshold for foreign investments as such benefits must be of net benefit to Canada," said Harper.
Under a proposal revealed this morning, only deals worth more than $1 billion would be subject to federal review, up from the current threshold of $295 million.
The Conservatives are also proposing to make it easier for foreign companies to invest in Canada's airlines.
Currently, foreign companies are only allowed to own 25 per cent of domestic carriers – that would move to 49 per cent, subject to "bilateral negotiations" with other nations.
As well, Harper would relax restrictions around ownership of Canada uranium mining.
"We will allow foreign ownership of uranium mining and producing provided that such investments meet a national security test, and that Canada also receives comparable benefits from investor nations," Harper said.
The prime minister set out the proposals in a breakfast speech to the Halifax Chamber of Commerce.
A Conservative strategist said the measures, a response to the recent 'Wilson' report on competition policy in Canada, are meant to enhance foreign investment in the Canadian economy.
"We're liberalizing foreign investment rules to attract more investment which is good our economy, good for jobs but through that we need to make sure are our interests are protected," he told reporters this morning.
http://www.thestar.com/FederalElection/article/498030
September 12, 2008
Bruce Campion-Smith
Ottawa Bureau Chief
HALIFAX — The Conservatives are proposing to open up the Canadian economy to more foreign investment and want to relax restrictions on foreign ownership of the airline industry and uranium mining.
"We will significantly increase the threshold for foreign investments as such benefits must be of net benefit to Canada," said Harper.
Under a proposal revealed this morning, only deals worth more than $1 billion would be subject to federal review, up from the current threshold of $295 million.
The Conservatives are also proposing to make it easier for foreign companies to invest in Canada's airlines.
Currently, foreign companies are only allowed to own 25 per cent of domestic carriers – that would move to 49 per cent, subject to "bilateral negotiations" with other nations.
As well, Harper would relax restrictions around ownership of Canada uranium mining.
"We will allow foreign ownership of uranium mining and producing provided that such investments meet a national security test, and that Canada also receives comparable benefits from investor nations," Harper said.
The prime minister set out the proposals in a breakfast speech to the Halifax Chamber of Commerce.
A Conservative strategist said the measures, a response to the recent 'Wilson' report on competition policy in Canada, are meant to enhance foreign investment in the Canadian economy.
"We're liberalizing foreign investment rules to attract more investment which is good our economy, good for jobs but through that we need to make sure are our interests are protected," he told reporters this morning.
http://www.thestar.com/FederalElection/article/498030
