This editorial on foreign takeovers states that "Canada already has the toughest overall limits on foreign investment of any major industrialized country."

Nothing could be further from the truth. Whereas Canada has a net benefit (largely economic) test, in the United Kingdom a transaction will be approved only if it is in the "public interest." In Australia, a foreign acquisition must be in the "national interest" to get the nod. France, the United States, Germany and Japan have all established tougher hurdles to clear than we have here in Canada. Since the toothless Investment Canada Act was passed by Parliament in 1985, there have been over 11,000 foreign acquisitions of Canadian companies. Since 1985, no foreign acquisitions have ever been rejected under the Investment Canada Act.

Roy Cullen, Liberal MP, Ottawa.