moved for leave to introduce Bill C-389, an act to promote shipbuilding, 2001.
Mr. Speaker, this bill revives a bill introduced earlier, which was within an hour's debate of third reading. It was Bill C-213 intended to promote shipbuilding. This bill is the same as the previous one, except that an election has been held in the meantime. I would remind you of the three components of the bill.
First, it would establishe a program of loans and loan guarantees for shipbuilding.
Second, it aims to amend the Income Tax Act to improve the tax treatment of lease financing, which would apply to the area of ships as well.
Third, it would provide for a refundable tax credit for ships, oil platform facilities and other things.
I waited until the end of the session to introduce this bill in the hope that the Minister of Industry would act on his commitment to introduce measures himself. As it appears he will not be doing so, I am introducing this bill as insurance.
(Motions deemed adopted, bill read the first time and printed)