Mr. Speaker, the decision by this government has been catastrophic for the workers, the families, the community of London and the advancement of the aerospace industry in Canada. Highly qualified technicians have been forced to leave London for the United States. The people of London have a right to know the reasons this loan was denied.
This government can spend $30 billion in a blink of an eye to invest in the American aerospace industry. At the same time, it denied funding to a Canadian company while making unconvincing arguments about prudent spending.
The loan disbursement amounts are not much more than the loss of income tax revenues and the unemployment insurance costs associated with the layoffs. There was opportunity here to increase tax revenue and create more jobs. How can this government call its actions fiscally responsible?
Again, will the minister outline exactly why the funding was denied?