Mr. Speaker, as of today the Conservatives are in formal default of their promise of a Muskrat Falls loan guarantee.
After over a year of analysis, a financial equivalent is being floated instead. Offering a financial equivalent is a refusal to assume any future risk for the project. It is not a true loan guarantee and is not what was promised. In contrast, a true loan guarantee would not cost the federal treasury a nickel as long as the project was technically and financially and economically viable.
Will a loan guarantee be offered, yes or no?