Senate QP: What about labour trusts?

For what was likely to to be the final QP of the parliament — for realsies this time — unless the Senate Liberals are able to come up with some new procedural tricksyness to delay C-377 further. There were only two statements today — Canada Day and the museums in Montreal over the summer — and after speeding through Routine Proceedings, Senator Cowan rose for QP. He led off noting the government studiously avoided answering questions yesterday, and how Bill C-377 could turn mutual funds and TFSAs into “labour trusts” and triggering disclosure obligations. Answering for the government, Senator Carignan evaded, saying it was important to pass the bill and noted unions posting on Twitter that they were working with the NDP in preparation for the election. Cowan noted that had nothing to do with his question, and demanded an answer on “labour trusts.” Carignan continued to evade, noting mandatory union dues. Cowan was not swayed and wanted an answer on the issue of the expert testimony on how the legislation would catch those funds. Carignan said that he was there to answer questions and not play “interpretation games” — which is ridiculous because it was a legitimate question about the substance of the bill. Cowan tried asking a different way — would they be okay with people’s private information going online if they were caught up in a “labour trust” interpretation, at which point Carignan babbled about legal opinions. Cowan, at the end of his patience, said that Carignan’s refusal to answer meant that he was okay with people having their financial information being made public. Carignan retreated to his mandatory union dues talking points. Senator Moore rose on a supplemental, asking if Carignan was okay with his own mutual funds and TFSAs being made public under the bill. Carignan went on a homily about the time he had Quebecor shares that he had to sell. Moore tried again, and got no answer.

Continue reading