Statement made on 20 October 2009 by Senator James Cowan
Hon. James S. Cowan (Leader of the Opposition):
Honourable senators, my question is for the Leader of the Government in the Senate. We read in the newspapers on the weekend, and I quote:
. . . the Harper government is asking the Supreme Court to rule on whether Ottawa has the power to create a national securities regulator.
Her colleague, Justice Minister Nicholson, was quoted as saying:
"The government strongly believes that Parliament has the constitutional authority to enact a comprehensive federal securities act and is initiating preparatory steps in that direction," . . .
The article continues:
"An opinion from the Supreme Court of Canada will provide legal certainty to all provinces and territories and market participants, and thus protect the integrity of a Canadian securities regulatory regime," . . .
Over two years ago, on June 12, 2007, the Standing Senate Committee on Legal and Constitutional Affairs reported to this chamber on its study of the government's bill to amend the Constitution of Canada to introduce certain reforms to the Senate of Canada. The committee recommended as follows:
We are convinced that the only way to ensure that the approach that the Government has taken on Senate reform is indeed constitutional is for the Government to refer Bill S-4 as we have amended it to the Supreme Court of Canada on a constitutional reference.
That was over two years ago, yet this government has done nothing except to reintroduce essentially the same bill with no guidance from the Supreme Court. Without question, we could have received the Supreme Court's decision on the reference long ago and, by now, be far along the road to real Senate reform.
Can the Leader of the Government in the Senate explain the difference to this chamber? Why is the government referring this matter of a national securities regulator to the Supreme Court of Canada for a constitutional reference, but has refused for more than two years to do the same on the matter of amending the fundamental legal document of the country, the Constitution?
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