When foreign companies attempt to buy large Canadian companies, the federal government should first make sure these takeovers are in the country's national interest, according to former Ontario premier, Liberal Toronto-Centre MP and foreign affairs critic Bob Rae.

“We think there should be a very clear national interest test that is applied at the last stage to investments above a certain level,” Rae, who spoke to about 50 local Liberal Party members at a meet-and-greet event Aug. 23 at Mr. Prime Rib, said.

“I don't mind saying that I feel very strongly that when both Falconbridge and Inco were being bid on, that at that point, both the federal and provincial governments should have intervened and said 'Let's build a strong Canadian interest in these companies, and let's make sure the head offices of the investment and research and development are..in Canada.'"

“I think that would have been the moment to do that, and I think an opportunity was lost.”

Rae, who said he's worked as a labour mediator in the past, said he's unimpressed that the strike between Vale and Steelworkers Local 6500 went on for nearly a year “without any intervention from the (federal) government, any comment or any leadership.”

Rae said his visit to Greater Sudbury comes as “part of the usual fare for the summer,” as he and other members of the federal Liberal party leadership travel the country and talk to local candidates riding association members.

He was in Thunder Bay earlier this week, and planned to visit Elliot Lake after leaving Sudbury.

Rae said federal Liberal party leader Michael Ignatieff plans to visit Sudbury Sept. 12. Ignatieff cancelled his tour of northern Ontario earlier this summer after his communications aide, Mario Lague, died in a motorcycle accident.

For more on this story, check future editions of Northern Life.