Mr. Speaker, my hon. colleague from Edmonton is correct. The budget did contain $175 million. We consider that the canoe budget for shipbuilding.
The Conservatives know very well, and they have been advised many times, that we require a $22 billion investment. That is just to replace and repair our military, Coast Guard and ferry fleets, let alone brand new ships.
I remember the former defence minister used to say that we would have three armed icebreakers. That promise is gone. We heard about the Diefenbaker, but we do not know where that is. That is at least a three-quarter of a billion dollar project.
We have very clearly asked for sound strategic investment by the government, not just on a domestic procurement but also to aid and assist our shipyards, the five major yards and the smaller ones, to protect and promote the trade jobs that are required. At least 5,000 to 7,000 full-time highly skilled jobs could be created on a long-term basis.
The number one recommendation of a 2000 unanimous report called “Breaking Through: Canadian Shipbuilding Industry” was structured facility financing and accelerated capital loans. We did get it for one year. Another time we got it for two years. We have asked that they be combined to assist this industry. If we had that, then quite possibly EFTA might not be so damaging. Without it, EFTA is completely damaging to the industry.
Could he comment on that?