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View Garnett Genuis Profile
CPC (AB)
Madam Speaker, my colleague probably agrees a little less than I do with the previous questioner. However, it is not just a matter of opinion; it is a matter of numbers. Let me share the numbers with the member in terms of ISDS cases that have been settled or decided.
Canada has lost eight cases and won nine cases, so we are batting above .500, and in total Canada has paid out about $219 million in damages and settlements and has spent about $95 million in legal costs to defend against ISDS claims. This is during the period in which NAFTA was in place. I compare those relatively small numbers to the $406.1 billion in foreign direct investment from the U.S. into Canada today.
By having a mechanism that protects Canadian companies that are making investments, we are winning more than we are losing and we are benefiting more than it is costing. It is a reality of a rule-of-law country that companies can sue the government when agreements have not been followed. That is part of a—
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