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The Council challenges new foreign investment threshold

The Toronto Star reports today that, “The Conservative government plans to drop the barriers to foreign investment under $1 billion, a move critics say could lead to the hollowing out of Canadian business under increased foreign ownership…A special (government-appointed) competition policy review panel presented a report in June calling for Canada to throw open the doors to foreign ownership in telecommunications, air travel and uranium mining and even recommending bank mergers to avoid falling farther behind in the global economy.”

THE COUNCIL OF CANADIANS
Today’s article continues, “‘It is unfortunate to see the government of Canada acting more in the interest of foreign investment than in the development and support of a Canadian economy,’ Brent Patterson, a spokesperson for the Council of Canadians, said yesterday.”

On June 27, 2008, when the ‘competition panel’ presented their report, the Toronto Star reported that, “Dylan Penner, a spokesperson for the Council of Canadians, said the results of the report ‘were pretty much predetermined. I would have been surprised if they had come out with a report that said `We need to protect the environment and health and reduce globalization,’ but that’s obviously not their agenda.'”

The web-link for today’s article is at http://www.thestar.com/article/600872.

The link for the June 2008 article is http://www.thestar.com/News/Canada/article/450171.