Speech (committee meeting)

{
    "time": "2021-12-13 18:40:00",
    "attribution": {
        "en": "Mr. Daniel Blaikie",
        "fr": "M. Daniel Blaikie"
    },
    "content": {
        "en": "<p data-HoCid=\"6886778\" data-originallang=\"en\">This amendment and its sister amendment, NDP-4, are with a view to an issue that has come up again and again in respect of the wage subsidy, which is that a number of companies availed themselves of wage subsidy support but clearly didn't need it because they were paying massive dividends to their shareholders. We've seen the clawback of benefits from people on the financial margins, but these companies that were clearly in a position to reward their shareholders have not seen any kind of comparable effort or in fact any effort at all to recover public funds that they took and didn't need. </p>\n<p data-HoCid=\"6886779\" data-originallang=\"en\">The point of these amendments is to ensure that there is an effort to recover money that went to companies that clearly didn't need that public support and that going forward there doesn't continue to be this phenomenon of companies being able to access funds, make a profit, and then pay those public funds out to their shareholders rather than reimbursing them to the government. </p>\n<p data-HoCid=\"6886780\" data-originallang=\"en\">The mechanism is a lot like what was landed on with respect to executive compensation, but it would apply in this case to dividends as well. The proposal here is that it would apply retroactively to the beginning of the pandemic and the paying out of these benefits. </p>",
        "fr": "<p data-HoCid=\"6886778\" data-originallang=\"en\">L'amendement propos\u00e9 et celui qui l'accompagne, le NDP\u20114, visent \u00e0 r\u00e9gler une question qui a \u00e9t\u00e9 soulev\u00e9e \u00e0 maintes reprises au sujet de la subvention salariale: un certain nombre d'entreprises se sont pr\u00e9values de cette subvention, mais n'en avaient manifestement pas besoin, puisqu'elles ont vers\u00e9 de g\u00e9n\u00e9reux dividendes \u00e0 leurs actionnaires. Nous venons de voir que des prestations sont r\u00e9cup\u00e9r\u00e9es aupr\u00e8s de gens dont la situation financi\u00e8re est fragile, mais ces entreprises qui \u00e9taient clairement en mesure de r\u00e9mun\u00e9rer leurs actionnaires n'ont \u00e9t\u00e9 vis\u00e9es par aucun effort comparable \u2014 par aucun effort, en fait \u2014 de r\u00e9cup\u00e9ration des fonds publics qu'elles ont accept\u00e9s alors qu'elles n'en avaient pas besoin. </p>\n<p data-HoCid=\"6886779\" data-originallang=\"en\">Le but de ces amendements est de faire en sorte qu'il y ait un effort de r\u00e9cup\u00e9ration des fonds vers\u00e9s \u00e0 des entreprises qui n'avaient manifestement pas besoin de l'appui de l'\u00c9tat et que, \u00e0 l'avenir, que la m\u00eame chose ne se reproduise pas, soit que des entreprises aient acc\u00e8s \u00e0 des fonds, r\u00e9alisent des b\u00e9n\u00e9fices et versent des fonds publics \u00e0 leurs actionnaires au lieu de les rendre \u00e0 l'\u00c9tat. </p>\n<p data-HoCid=\"6886780\" data-originallang=\"en\">Le m\u00e9canisme ressemble beaucoup \u00e0 ce qui a \u00e9t\u00e9 pr\u00e9vu pour la r\u00e9mun\u00e9ration des cadres sup\u00e9rieurs, mais il s'appliquerait \u00e9galement dans ce cas\u2011ci aux dividendes. Il est propos\u00e9 que le m\u00e9canisme s'applique r\u00e9troactivement au d\u00e9but de la pand\u00e9mie et au versement de ces prestations. </p>"
    },
    "url": "/committees/finance/44-1/9/daniel-blaikie-4/",
    "politician_url": "/politicians/daniel-blaikie/",
    "politician_membership_url": "/politicians/memberships/4407/",
    "procedural": false,
    "source_id": "11459073",
    "document_url": "/committees/finance/44-1/9/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fcommittees%2Ffinance%2F44-1%2F9%2F"
    }
}