This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
This is a single
speech (committee meeting) resource
from the openparliament.ca API. If you’re new here, you might want to look at the documentation. If API and JSON are gibberish to you, you’re better off at our main site.
{
"time": "2008-02-05 11:40:00",
"attribution": {
"en": "Ms. Cate McCready",
"fr": ""
},
"content": {
"en": "<p data-HoCid=\"905218\" data-originallang=\"en\">I would be happy to.</p>\n<p data-HoCid=\"905219\" data-originallang=\"en\">It was an issue we had spent a lot of time working on over the last couple of years. It was a mechanism within our Canada tax treaty directly related to limited liability companies whose structures essentially faced a double taxation dynamic when the dollars came into Canada. It is a mechanism that's intensely used within the biotech sector to leverage investment. Canada was essentially penalizing successful companies for securing international investment into their companies by taxing them. </p>\n<p data-HoCid=\"905220\" data-originallang=\"en\">The royal assent of that change and those negotiations came to be, as you know, in December. We're now waiting for that bill to be passed in the U.S. Senate. I can tell you that already the messaging we have started to do as a nation, with both our colleagues within the international trade framework and within the venture capital and investment community.... We've spent the last two weekends with those folks from the U.S. marketplace. We're messaging strongly on that, and they're incredibly eager to see it change.</p>\n<p data-HoCid=\"905221\" data-originallang=\"en\"> We're very optimistic that this signal out to the industry that Canada means business and is willing to adapt and change previous practices in a way that's more globally competitive for everybody is certainly gathering--for our industry, anyway, at this point--some good encouragement.</p>",
"fr": "<p data-HoCid=\"905218\" data-originallang=\"en\">Volontiers.</p>\n<p data-HoCid=\"905219\" data-originallang=\"en\">C'est un sujet qui nous a beaucoup occup\u00e9s depuis deux ans. C'\u00e9tait un m\u00e9canisme, dans notre trait\u00e9 fiscal du Canada, qui touchait directement les compagnies \u00e0 responsabilit\u00e9 limit\u00e9e qui en raison de leur structure, en gros, \u00e9taient confront\u00e9es \u00e0 une dynamique de double imposition quand l'argent rentrait au Canada. Ce type de m\u00e9canisme est intens\u00e9ment exploit\u00e9 par le secteur de la biotechnologie pour cr\u00e9er un effet de levier sur l'investissement. Le Canada, en fait, p\u00e9nalisait les compagnies qui r\u00e9ussissaient \u00e0 obtenir des investissements internationaux en les taxant.</p>\n<p data-HoCid=\"905220\" data-originallang=\"en\">La sanction royale a \u00e9t\u00e9 donn\u00e9e \u00e0 cette modification et \u00e0 ces n\u00e9gociations, vous le savez, en d\u00e9cembre. Nous attendons maintenant l'adoption du projet de loi par le S\u00e9nat am\u00e9ricain. Je peux vous dire que d\u00e9j\u00e0, les messages que nous avons commenc\u00e9 \u00e0 transmettre en tant que pays, tant avec nos coll\u00e8gues du cadre des \u00e9changes commerciaux internationaux qu'au sein de la communaut\u00e9 du capital-risque et de l'investissement... Nous avons pass\u00e9 les deux derni\u00e8res fins de semaine avec des repr\u00e9sentants du march\u00e9 am\u00e9ricain. Nous militons r\u00e9solument en faveur de ce changement, et ils l'attendent avec un enthousiasme incroyable.</p>\n<p data-HoCid=\"905221\" data-originallang=\"en\">Nous sommes tr\u00e8s optimistes que ce message \u00e0 l'industrie que le Canada est d\u00e9termin\u00e9 et qu'il est pr\u00eat \u00e0 adapter et modifier des pratiques ant\u00e9rieures pour les rendre plus comp\u00e9titives pour tout le monde \u00e0 l'\u00e9chelle mondiale attire, c'est certain \u2014 du moins pour notre industrie, en ce moment \u2014 certains encouragements.</p>"
},
"url": "/committees/industry/39-2/17/cate-mccready-6/",
"politician_url": null,
"politician_membership_url": null,
"procedural": false,
"source_id": "2298189",
"document_url": "/committees/industry/39-2/17/",
"related": {
"document_speeches_url": "/speeches/?document=%2Fcommittees%2Findustry%2F39-2%2F17%2F"
}
}