Thank you very much, Mr. Chair.
This motion is extremely important. We talked about it in the House, in the committee of the whole in the evening, and in question period. Taxpayers have the right to know why a $200 million contract was awarded to a company that was on the verge of bankruptcy not long before. Just today, the Minister of Finance was asked that question, and he told us to go talk to the astronauts.
It's not a question of whether or not we should be developing our ability to send satellites into space independently. The question is really more about the facts: the way this contract was awarded and the numbers, which make no sense.
Let's look at the issue. On March 16, 2026, the government announced a 10-year agreement with Maritime Launch Services, or MLS, which has six employees. It's going to receive $20 million a year for 10 years.
Again, it's the facts that matter. We can't just be partisan. Let's check the SEDAR+ platform to see what the company is worth and to find out what's going on. As of December 31, 2025, MLS had total revenues of $14,980, with a loss of $3.8 million in operating expenses. Obviously, things are not going well for MLS, but MLS ended up meeting with ministers and other key people 158 times before they got a 10-year, $200 million contract.
What kind of facility are we going to get for $200 million? In the end, we learned that it is a 25 by 35 foot concrete slab and two sea containers. Maybe we don't know anything about it, so we can go and look at the contracts. However, they show that the land does not even belong to the company. It is leased from Nova Scotia, for $13,500 a year, and the company turns around and leases it to the federal government, paying $20 million per year in taxpayers' money for 10 years. The question is not whether we need astronauts, but how can there be such a discrepancy. I think it's a fair question. It's the kind of issue that our committee should be studying.
I did some research to see if this was commonplace, if it was happening elsewhere in the world. Norway also has launch platforms. They've done a tremendous number of successful launches. It has spent $46 million Canadian, has had a bunch of launches and owns 90% of the company that does the launches. Here in Canada, we are so smart that we are going to pay $200 million, own 0% of the company, and have not yet had a single launch.
We're not against everything, but can we at least compare ourselves to successful countries and draw inspiration from them to be effective?
There's also another issue: the deal was announced on March 16, and on April 9, 24 days later, the chair of the board sold 3 million shares and pocketed $1.8 million. The company wasn't making a dime, it was going bankrupt, and then, suddenly, one of the owners pocketed $1.8 million. What happened?
We also realized that, a few days later, he made other transactions. His stake in the company fell from 15.45% to 15.1%. So he sold his shares to make money and bought them back for less the next day. As a result, he got back close to what he had, but pocketed $1.8 million, whereas a few months earlier, the company was going bankrupt.
When this kind of thing happens, the least the Standing Committee on Access to Information, Privacy and Ethics can do is invite people to testify to answer our questions. This needs to be clarified for taxpayers so that they know that, when their money is invested in something, it is being invested for them.
I will close by saying that we found out something else: The contract was dated a year before the announcement, so the company would make $20 million on day one, even though it hadn't done anything yet. I would say that is ridiculous, but that would be disrespectful.
Before I was elected, I was an entrepreneur. I wish I could start a business like that. That would be great. I would say: “I have idea. You'll see, I'll be good. Give me $20 million a year for 10 years. Take the risk and you'll see that it's going to work out well.”
This is another Liberal scheme: take taxpayers' money and risk it by investing it, with no guarantees, in a company that is not doing well, but that has the great advantage of having a good network, to help friends make money. At the end of the day, taxpayers are the ones who pay the price.
So I think we need more transparency. When things like that happen, the Standing Committee on Access to Information, Privacy and Ethics needs to take action and examine them, to be fair and transparent to the citizens of Quebec and Canada, who will all end up footing the bill.
The motion is simple. We just want to call the people involved and ask them questions. If they have nothing to hide, all they have to do is come and answer our questions, and we'll be able to get to the bottom of this.
Thank you.