On that last question, we certainly do value-for-money analyses on these kinds of things. Obviously the role of auditing the federal government falls to the Auditor General. Our organization is subject to audit, both special examinations and audit by the Auditor General in terms of his responsibilities.
On your first point, I would point out to the committee that the term “P3” is broadly and loosely applied by many people in different contexts, ranging from any kind of engagement with the private sector to situations where significant long-term private capital is applied. I would note to the committee that when calling witnesses, people have different definitions of a P3.
I wouldn't want to speak particularly about the project you identified in Alberta, but they have had significant success in the construction of ring roads. Edmonton has P3s, delivering them on budget, on time, and faster.
I can't speak specifically to the project at hand. But if there were, in fact, significant private sector capital at risk in a way that a P3 project should be constructed, then they wouldn't be on the hook for bailing out the company, because their money would be the money at risk.