Francesco Sorbara

[Budget Implementation Act, 2016, No. 2, December 6th, 2016]

Mr. Speaker, our government ran on a platform of investing in Canada and Canadians. That is what we plan to do. That is what we are executing on. It is a $180-billion program to invest in infrastructure. The members opposite left us with a huge infrastructure deficit. We are looking at the world environment, a period of very low interest rates. Every expert who came to the finance committee encouraged the governing party to invest in infrastructure to take advantage of the low interest rates currently in effect, basically globally, and to use this opportunity to invest in Canada and Canadians. That is what we will continue to do.

[Budget Implementation Act, 2016, No. 2, December 6th, 2016]

Mr. Speaker, I am very proud of our government's work with the Province of Quebec and all the infrastructure funding that we have announced over the last several months for la belle province.

I would also like to add that our government is very supportive of and understands full well the importance of small and medium enterprises, and that we will do everything within our wherewithal to make sure they succeed from coast to coast to coast.

[Budget Implementation Act, 2016, No. 2, December 6th, 2016]

Mr. Speaker, in their 10 years of governing, the Conservatives added about $155 billion of new debt to Canada's total debt. They basically ran deficits every year after inheriting a $13 billion surplus when they came to power. So, nice job, gentlemen.

In my years of experience working on Bay Street and Wall Street, one of the measures that many of us have looked at was the debt-to-GDP ratio. That ratio is around the mid-thirties right now. We intend to keep it in that area and for it to decline on a year-over-year basis. That is a proper measure.

I would add that we inherited not only a fiscal deficit but also an infrastructure deficit and an educational deficit, and that we had to invest. We had to invest in social infrastructure and green infrastructure.

[Budget Implementation Act, 2016, No. 2, December 6th, 2016]

Mr. Speaker, it is my pleasure to speak again to Bill C-29 in this House. I am not sure my remarks will be as colourful or as passionate as the prior exchange, but I will try my best.

When I speak to Bill C-29 and think about budget 2016, I think about where it will take our economy, I think about where it will take the residents of my riding of Vaughan—Woodbridge, and I think about what it will do for those middle-class Canadians, those working Canadians in our country, who are working every day and putting food on their tables and saving money for their children's future, for their children's school, for their education, for their sports and so forth.

I think about our budget and what our government is doing for Canadians on a daily basis, whether via the Canada child benefit or the tax cut that has benefited nine million Canadians over the last year, and the $20 billion in tax relief over the next five years. I think about the enhanced CPP and the historic agreement that our government reached with the provinces. I think about all these measures that we are putting in place, which will strengthen our economy, which will translate into faster economic growth and, fundamentally, translate into good-paying jobs for all Canadians.

In this part of the speech, I look at what we have done with the Bank Act and some of the regulations that we have codified and changed. I was there when the global financial crisis hit Canada and the world. I remember seeing some of the banks in the United States not make it due to a liquidity crisis, and during that time I saw the strength and regulation of the Canadian banking industry come through. I saw how strong our banks were, with their tier-one capital levels and the low delinquency rates in the Canadian housing market. I saw how the regulators, whether at OSFI, the Bank of Canada, or the superintendent of financial institutions, were all coordinating and working together to ensure that we had a strong banking sector. We have continued to evolve along that line. We have continued to work with the Department of Finance, OSFI, and the Bank of Canada to ensure that we have a strong housing sector.

It gives me great pleasure to talk about the Canada child benefit, which helps nine out of every 10 Canadian families with $2,300 extra a year that will lift 300,000 children out of poverty in Canada. That is something I am sure that all of my colleagues from all parties should applaud and vote for. I am surprised they have not done so.

The CCB is transformational. The CPP enhancement is historic. The tax cut for middle-class Canadians is the centrepiece.

With with Bill C-29 and budget 2016, we are moving our economy forward and building a stronger Canada, a more diverse, inclusive country, with better economic growth. We are in a period, I would say, of world economic history when Canada is standing out as a beacon of light. We have strong fiscal framework that we continue to improve, a balance sheet that is the envy of the world, and an AAA credit rating. I cannot be more proud to be on the Standing Committee on Finance to ensure that Canada moves forward in a strong way.

On a personal level, it speaks to my two children at home, Eliana and Natalia, my two girls whom I miss fondly when I am here in Ottawa and who I hope have brighter futures. They are 4 and 6 years old, and I am here as the representative of my riding, fighting to make sure that their future is one heck of a bright one.

I will stop my remarks there and look forward to Q and A.

[Canada Pension Plan, November 29th, 2016]

Mr. Speaker, my hon. colleague and I sit together on the finance committee. In a time when defined benefit pension plans are going away and retirement savings are so important for Canadians and many generations to come, when the CPP is portable, fully indexed, stable, and secure and our government has reached this historic agreement with the provinces, why would the hon. member's colleagues and his party not join with us in celebrating this agreement and working together to ensure that this agreement comes to fruition, which it will, so our children would have good, dignified retirement security to look forward to?

[Canada-European Union Comprehensive Economic and Trade Agreement Implementation Act, November 22nd, 2016]

Mr. Speaker, one of the things we need to look at are industries that may be impacted by trade deals. We know that overall, we are better off with trade. We have seen it with NAFTA and other agreements we have in place internationally. We know that trade deals create good-paying jobs, whether it is in services, manufacturing, and so forth. With regard to looking at various industries, we have seen the government step up to the plate and run consultations with the dairy industry. I would conjecture that the same thing would happen with other industries that may be impacted, in this case the fisheries industry on the Atlantic coast.

I grew up in northwest British Columbia. There was a vibrant fishing industry, which has now dissipated somewhat, unfortunately. We need to ensure that when there are losers in trade, they are looked at. We need to get away from just looking at the winners and look at industries and groups that may be impacted and make sure that programs are in place to help those associated industries and geographies.

[Canada-European Union Comprehensive Economic and Trade Agreement Implementation Act, November 22nd, 2016]

Mr. Speaker, on the European Union website, it talks in detail about the investment protection system. One of the areas is about the rules that will govern the members who sit on the tribunal. To prevent what is called double-hatting, where a member of the tribunal also works in parallel as a consultant and expert in other investment disputes, this is actually forbidden in the agreement for the entire duration of the member's employment. It is forbidden in CETA.

There are safeguards with regard to the independent investment dispute resolution system. There are rules governing the members of the tribunal. There will be full transparency with regard to the proceedings, and there will be a ban on frivolous claims. I think that is a very strong component of the trade deal, and we need to applaud that and make sure that we state that.

[Canada-European Union Comprehensive Economic and Trade Agreement Implementation Act, November 22nd, 2016]

Madam Speaker, it is a pleasure for me to rise and speak about this historic agreement. My comments today on CETA will deal with the investor protection section of the agreement. However, before I begin I must comment on the significance, in my opinion, of this agreement to the current global context.

First, as the chair of the Canada-Italy Interparliamentary Group, and as a dual European-Canadian citizen, I must congratulate those who worked on the agreement and acknowledge the judicious and diligent work to complete the deal. Auguri. Félicitations. Congratulations to our Minister of International Trade and the minister's entire team. Canada has a small, open economy, and we are trade dependent. Trade generates growth and good middle-class jobs, and this deal would do that.

At a time in world history when it seems that walls are building around us rather than coming down, and populist rhetoric is providing false hope, the importance of CETA is not lost upon me. This view is from both sides of the Atlantic.

The CETA agreement is a progressive trade agreement that would deliver positive results and opportunities for citizens in the European Union and Canada. In my home province of Ontario, CETA would help drive economic growth and create stable and high-paying jobs for generations. The European Union is already Ontario's second-largest export destination and second-largest trading partner. Once in force, CETA would eliminate tariffs on almost all of Ontario's exports and provide access to new market opportunities in the EU.

Here are a few simple facts. The EU is Canada's second biggest trading partner after the U.S. and accounts for nearly 10% of its external trade. Trade in goods between the European Union and Canada is worth almost 60 billion euros, roughly about $80 billion to $90 billion Canadian a year. In 2013, European investments in Canada were estimated at 225 billion euros, while Canadian direct investment stocks in the European Union amounted to more than 117 billion euros.

Prior to CETA's entry into force, only 25% of the European Union tariff lines on Canadian goods are duty-free. Upon CETA's entry into force, the EU would remove approximately 98% of its tariff lines. Once CETA is fully implemented, this would increase to 99% of all of its tariff lines.

We should be proud of CETA. It is the most progressive trade agreement ever negotiated. It would help redefine what trade can and should be. It would lead to increased prosperity here in Canada, create well-paying jobs, and help strengthen the middle class. It is also a ground-breaking agreement in opening doors to increased access to the EU market for Canadian companies. CETA sets new standards for trade in goods and services, non-tariff barriers, investment, government procurement, as well as other areas, like labour and environment protection.

Just as important, the agreement would also help facilitate investment, a significant factor in achieving prosperity and job creation. Foreign direct investment, commonly known as FDI, is an important driver of economic growth, with new investment by foreign firms having the ability to provide a boost to national income and to create good, middle-class jobs for Canadians. Foreign investment here in Canada and Canadian companies investing in the EU can also promote trade by facilitating value-chain linkages and improving access to new technologies. Not only would CETA help facilitate foreign investment, but it would set a new bar for investment protection.

One of the most important things our government did right after taking office was to listen to the constructive criticism from the critics of CETA, both in Canada and in Europe, and to understand some of the legitimate anxieties people, organizations, and governments had. We heard many concerns regarding the investment protection provisions in CETA, and we have worked with Canadians, including industry and civil society alike, and with our EU partners, to address these issues and to prove that progressive trade policy is possible with CETA. Our government fully seized the opportunity and developed a new and improved approach to investment protection provisions.

A significant innovation in CETA is the transformation of the mechanism for the resolution of disputes between investors and states. CETA marks the first international trade agreement that establishes a permanent tribunal to hear claims by investors alleging that states have breached investment-related obligations. I repeat, a permanent tribunal. The CETA tribunal would consist of 15 members appointed solely by Canada and the European Union. Ethical requirements would be central to the process leading to their appointments, including not allowing members of the tribunal to act as counsel or expert witnesses in an investment dispute under any international investment agreement. Members would be appointed for a five-year term that may be renewed only once.

Individual cases will be heard before a three-member division of the tribunal, and those members will be selected on a rotation basis, ensuring that the composition of the division is random.

Such innovations address concerns about a perceived lack of arbitrator independence and will give greater legitimacy to the dispute resolution process. Moreover, as the members of a division hearing a specific case will be in a position to consult with the other members of the tribunal, we expect that the coherence of decisions will be much improved as a result.

In addition to the first-instance tribunal, CETA will establish a permanent appellate tribunal, thereby creating another precedent in international investment law. The appellate tribunal will function in a way similar to the first-instance tribunal. Its task will be to review decisions that are contested by either the foreign investor or the respondent state. In time, the first-instance tribunal and the appellate tribunal will develop a body of decisions that will constitute effective jurisprudence. This, in turn, will create greater legal certainty for both foreign investors and governments. It is very important that we have this.

The innovations made to the mechanism for the resolution of disputes are certainly significant ones, and our government is proud of them, but there are other innovations in the CETA investment chapter.

We have closed the door to provision shopping by clarifying that investors cannot seek to import provisions from other Canadian or European trade agreements through CETA's most-favoured-nation treatment article. CETA encourages the use of domestic courts by suspending the timelines for the submission of claims while domestic remedies are being pursued.

We added an article on mediation to encourage early settlement of disputes without recourse to the CETA tribunal. We have provided CETA with a mechanism for the early dismissal of frivolous claims. We have taken small and medium-sized enterprises into consideration and have added provisions that make it easier for them to access the mechanism for the resolution of disputes. We have made it mandatory for an investor who submits a claim while benefiting from third-party funding to be transparent and to disclose the identity of its funder. Importantly, we have established a committee that will provide a forum for the CETA party to consult on difficulties that may arise regarding the implementation of a chapter and on possible improvements to the chapter, especially in light of experiences and developments in other international fora.

It has also been Canada's long-standing practice to prevent so-called mailbox companies from benefiting from Canada's trade agreements. CETA is no different. To be considered an investor under CETA, a European Union enterprise owned by interests of a third party is required to have substantial business activities in the territory of the European Union. It cannot simply establish a mailbox company in the EU with the sole purpose of gaining access to the dispute resolution mechanism of CETA.

Finally, CETA demonstrates Canada's continued leadership with regard to promoting transparency in the dispute resolution process. Under CETA, all hearings will be open to the public, and all documents submitted to or issued by the permanent tribunal will be made available to the public.

The changes we made to CETA in addressing important issues voiced by Canadians and EU citizens alike represent a starting point in the development of a progressive trade agenda between a progressive Canada and a progressive European Union. This is an agenda that is linked to the government's domestic policy focus on reducing inequality and enhancing inclusive growth through such things as investments in infrastructure and increased child benefits. The idea is to ensure that trade policy makes a more meaningful contribution to this overall agenda and to ensure that trade is done in a way that really works for Canadians and our trading partners.

Canada will continue to seek ways to enrich the economic relationships we have with valued partners with the aim of achieving prosperity for all Canadians. However, it is very important to our government that we ensure that this is done in an inclusive and responsible manner. We are seeing this approach realized in CETA.

I am very proud to stand here and speak to this agreement. I believe it is transformational and, in the context of where we are in modern-day history, very much needed.

[Italian Heritage Month, November 18th, 2016]

[Member spoke in Italian]

[English]

Good afternoon, Mr. Speaker. It is with great pride that I rise today as the son of Italian immigrants to speak to this motion, which would declare June Italian heritage month.

The motion recognizes the contributions Italian Canadians have made to Canadian society, the richness of Italian culture and history in Canada, and the importance of educating and reflecting upon Italian heritage for future generations.

For many Italian immigrants, the Italian Canadian story is one of sacrifice and hard work, achievement and success, and ultimately, integration into this beautiful country. For Italian Canadians, there is a saying that Italy is my native country, but Canada is my home.

This year will mark 57 years that my family is in Canada. My grandparents, along with their seven children, left southern Italy and the province of Calabria with nothing but what they could carry. They sailed from Naples on board the vessel M.S. Vulcania, arriving at Pier 21 in Halifax. Much like many Italian immigrants, they left to find a better future. They settled on the west coast of Canada, where they worked in the construction industry, pulp mills, and fish canneries.

I think humbly of my parents and my aunts and uncles, who came to Canada with little knowledge of English and little or no formal education. What they did have was a sense of pride, a work ethic, and an unwavering commitment to providing a better future for their children.

I think of my father, who like many Italian immigrants, became a tradesman, a carpenter, a roofer, and a sheet metal worker. He taught me the values of integrity, a strong drive to succeed, and a commitment to family.

My mother worked tirelessly in a fish cannery. In the morning, everything would be ready for me and my two brothers, and after a long day at work, she would come home, cook, and make certain the house was spotless. My parents taught me not only the value of hard work but the value of a dollar saved. That was the kind of people they were.

I think of the contributions of the trailblazers who opened the door for many of us: Frank Iacobucci, the retired Supreme Court justice; Charles Caccia, the great environmentalist, social activist, and former MP for Davenport from 1968 to 2004; Pietro Rizzuto and Peter Bosa, both senators, appointed by Pierre Trudeau; Johnny Lombardi and Gaetano Gagliano, whose legacies in the media business continue today.

I think of the success of the Canadian Italian business community that stretches across the country, names such as Bratty, Bosa, De Gasperis, Sorbara, Cortellucci, DeZen, Aquilini, Muzzo, Baldassarre, Saputo, and many more.

I think of the richness and vitality of Italian communites like Commercial Drive in Vancouver, College Street and St. Clair in Toronto, and St. Leonard in Montreal.

I am privileged to represent Vaughan—Woodbridge, which has the largest concentration of Italian Canadians in Canada. My greatest enjoyment as MP is visiting the seniors groups, where many recount their stories of arrival in Canada, the hardships they faced, including discrimination and bigotry, and how much they sacrificed for their children. They are all proud of being Canadian and are thankful for the opportunity for a better future that this country gave them.

I would like to read a quote from the commemorative plaque on the Italian fallen workers memorial in Ontario.

During the Great Diaspora of Italian emigration between 1870 and 1970, thousands of Italians left their homeland in search of a better life for their families. Many of them found their way to Ontario, where they toiled in all of the harshest industries of the last century...

digging the sewer systems of many Ontario cities;

creating the structures for the new hydroelectricity plants;

building the massive bridges and tunnels of our transportation infrastructure;

mining for ores in Ontario's north; and

erecting residential and commercial buildings

It was in a blossoming construction industry, which ultimately built up this beautiful province.

I feel honoured being here today and being part of this incredible group of people who call Canada home. We are so proud of being Canadian, as this beautiful, diverse, and tolerant country has given so much to us.

I thank all the parties in the House for supporting this very important motion. It makes us all proud Italian Canadians today.

[Italian Heritage Month, November 18th, 2016]

[Member spoke in Italian and provided the following translation:]

Mr. Speaker, I am proud to stand today as an Italian Canadian and Chair of the Canada-Italy Interparliamentary Group, as well as the member of Parliament representing the constituency with the highest concentration of Canadians of Italian heritage.

I am very familiar with the invaluable role our community has played in building Canada as well as the impact we continue to make on Canadian society through our ingenuity, hard work, and cultural influences.

I would like to thank my colleague for her speech and ask the member for King—Vaughan if she could elaborate on the support she has received from the Liberal members of Parliament of Italian heritage and why it is so important that the contributions of Italian Canadians be officially recognized.

[English]