Mr. Speaker, I want to take a couple of minutes to address the amendment and a very fundamental question here.
First, let me indicate there is no evidence in other countries where privatization has taken place of foreign takeovers. In fact, to protect against any individual gaining control of CN, as has been indicated, a 15 per cent individual ownership restriction has been imposed.
Moreover section 8 of the enabling legislation protects against investors colluding to control the company by combining the voting power of their shares. To insert such an amendment into the bill would negatively impact on both the value of the shares as well as what the government would receive and hence the Canadian taxpayer.
I do not believe we need to take any lessons from the Bloc Quebecois in protecting Canadian interests. The government wants to maximize the return for Canadians in this national railroad and does not need any lessons from them on how to build good national railways.
Let me also take this opportunity to assure my friend in regard to the question he asked about fees. Obviously they will be made in due course. I believe he also heard of this global team that will offer these shares across North America and beyond, that is why this team was put together.
He also heard that our Minister of Transport has negotiated the best deal with regard to fees and they have complimented the hard bargain he drove. I assure members we will be getting good value for the fees from our global underwriters.