Evidence of meeting #39 for Finance in the 39th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was rural.
Conservative
Mike Wallace Conservative Burlington, ON
I'm going to go very quickly, if that's possible. I have only five minutes.
I'd like to start with the airports group. It's a question of $38 million. Do you have a target for the small capital assistance program?
President and Chief Executive Officer, Atlantic Canada Airports Association
As I mentioned before, it's a figure that's out there, that we really can't get our hands around, because at this moment in time the demands of small airports vary so significantly. We think we can work with the federal government to come up with a number to sustain airports.
Conservative
Mike Wallace Conservative Burlington, ON
[Technical difficulty--Editor]—business plan on whether those flights are profitable or not? Did they not know it was going to cost $200,000?
President and Chief Executive Officer, Atlantic Canada Airports Association
No, because at the time, it went to the airlines and in a sense came back to the airport. It was either that the airlines pay or the airport pays. They weren't initially part of the negotiations, so it was laid on their laps, and either they paid $200,000 or Delta—
Conservative
Mike Wallace Conservative Burlington, ON
The numbers on this surprise me a little bit. In any other business I've been involved with, you know what your costs are before you go in.
This is just a quick question for Ms. Irvine. You mentioned tax incentives. Is that idea part of your program, then? It's not necessarily cash, but other tax opportunities to get people to invest in the cultural sector?
Executive Director, Association of Cultural Industries of Newfoundland and Labrador
Tax opportunities for investment would be great. What we're looking for is tax breaks for artists. They're self-employed, and oftentimes because of the nature of their work the tax becomes quite difficult. Talk about low-income Canadians. You really have to show support.
Conservative
Mike Wallace Conservative Burlington, ON
Okay.
I heard, through other questions, has the science centre already applied through a tripartite approach to infrastructure projects—
Conservative
Mike Wallace Conservative Burlington, ON
Is the science centre receiving any federal funding now for their capital or operating expenditures?
Executive Director, Newfoundland and Labrador Science Centre
We get operation moneys.
Conservative
Executive Director, Newfoundland and Labrador Science Centre
It depends on the program—
October 23rd, 2006 / 10:15 a.m.
Conservative
Executive Director, Newfoundland and Labrador Science Centre
The City of Mount Pearl—[Technical difficulty--Editor]
Conservative
Mike Wallace Conservative Burlington, ON
How many other science centres are there across the country, do you know?
Conservative
Mike Wallace Conservative Burlington, ON
About 40, okay.
Thank you. Those were my questions.
The question I have for NOIA is very similar to what I asked of Mr. O'Connell on the geological survey. I've had the—[Technical difficulty--Editor]—in my office talking to me about this issue. When was the last time it was updated?
President and Chief Executive Officer, Newfoundland Ocean Industries Association
I would have to get back to you with information on that.
Gerry?
Executive Director, Newfoundland and Labrador Chamber of Mineral Resources
The investment in geoscientists has dropped dramatically over the last several years. I saw a certification last year by somebody who got it from Surveys Canada, at that time they had one crew in the field. That is unacceptable. We've had a geological survey for the last fifty years and it's been really active and well supported. And it's not just about resources either; it's about earthquakes and aquifers and radon gas and a whole pile of things.
Conservative
Executive Director, Newfoundland and Labrador Chamber of Mineral Resources
The number we're looking for the cooperative geological mapping strategies is $25 million, but reinvestment in geoscience is required for all kinds of industries, not just ours.
Conservative
Mike Wallace Conservative Burlington, ON
And for offshore oil, out of the ocean, when we were out at Fort McMurray they told us about where break-even was, based on what a barrel is. What is it for a rig out here? Where does the cost of barrel of oil break, before it's not worthwhile getting it from the ocean?
President and Chief Executive Officer, Newfoundland Ocean Industries Association
The costs are increasing now, and rig rates are going up. It's a globally competitive industry, and one of the constraints right now is actually ensuring that the rates on the global markets—[Technical difficulty--Editor]— Day rates for rigs have gone up from approximately $150,000 per day to up to over $400,000 a day. So that's one significant cost of exploration.
Conservative
President and Chief Executive Officer, Newfoundland Ocean Industries Association
We have had two exploration wells built this year—[Technical difficulty--Editor]