(Quebec) The Legault government defends a $ 25 million investment by Investissement Québec (IQ) in a company doing business in a tax haven.
The White Star firm is active in Guernsey, an island recognized as a tax haven.
“Investissement Quebec makes decisions for the benefit of Quebecers,” argued the Minister responsible for IQ, Pierre Fitzgibbon, Wednesday, after the meeting of the Council of Ministers.
He argued that all the investment was made in Quebec: the sums do not go through the activities of the company in Guernsey, he insisted.
“This is not what is happening, you do not understand, I think,” he replied to reporters.
“It is an investment which is appropriate”, supported the Minister of Finance, Eric Girard, in melee press Wednesday in the Parliament, adding that all the verifications had been made.
He was the one who defended this investment during question period, rather than Mr. Fitzgibbon, who was responsible for IQ.
“The Minister of the Economy does not stand up [pour répondre à la question] “Lamented Liberal MP Marwah Rizqy, herself a tax expert.
“Is it because he’s embarrassed today?” Because the last time I looked, the island of Guernsey is clearly a tax haven. […] Quebecers pay their taxes. Your friends, do they? ”
Last spring, Quebecor reported that Mr. Fizgibbon introduced François Legault the co-founder of White Star in 2019. Mr. Fiztgibbon then held stakes in one of White Star’s funds.
Liberal MP Monsef Derraji tried to find out what was “the involvement of the Minister of the Economy in the decision to invest in the new fund”.
Government House Leader Simon Jolin-Barrette believes that the opposition “is trying to smear the Minister of the Economy, that does not make sense”.
The Minister of the Economy “was not involved”, retorted Mr. Girard, adding that we “keep a healthy distance”.
“I am not aware of the transaction, I was not in the discussion,” assured Mr. Fitzgibbon.
According to Mr. Girard, we need to invest in funds that help “start-up” businesses like White Star’s.
“The White Star fund is managed by two dynamic Quebecers,” he pleaded.
“Investissement Québec has done all the checks,” he continued in the press. IQ deals with a Canadian limited partnership and all tax obligations are met, he assured.