Evidence of meeting #13 for Finance in the 43rd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was economy.
A video is available from Parliament.
4:10 p.m.
Assistant Deputy Minister, Innovation Canada, Department of Industry
It depends on the contribution. It's non-repayable if there's a significant public spillover benefit. It's repayable if its a project where the company is looking for non-dilutive patient capital. Each one depends on the project.
4:10 p.m.
Conservative
Michael Cooper Conservative St. Albert—Edmonton, AB
I appreciate that, but again, the question was simply with regard to the billion dollars or so that has been paid out. How much can Canadian taxpayers expect to see repaid? I don't need the details you're providing. I'm asking a very specific question about a number. I'm asking you to give it to me.
4:10 p.m.
Assistant Deputy Minister, Innovation Canada, Department of Industry
Are you asking me under the strategic innovation fund?
4:10 p.m.
Assistant Deputy Minister, Innovation Canada, Department of Industry
I don't have the list of projects that are repayable or non-repayable.
4:10 p.m.
Conservative
4:10 p.m.
Assistant Deputy Minister, Innovation Canada, Department of Industry
We can. We would be more than happy to provide that list.
4:10 p.m.
Conservative
Michael Cooper Conservative St. Albert—Edmonton, AB
My understanding is that it's only $566.4 million of $1.05 billion that has been paid out.
4:10 p.m.
Assistant Deputy Minister, Innovation Canada, Department of Industry
I don't have that number with me, but we would be happy to provide the list.
4:10 p.m.
Conservative
Michael Cooper Conservative St. Albert—Edmonton, AB
When Minister Morneau appeared at this committee, I asked him a question about the $372-million loan that had been paid to Bombardier with respect to the C Series. Bombardier took that $372 million, moved jobs overseas and moved the IPO overseas.
I asked the minister very simply when that loan would be repaid. He didn't have an answer. Might you?
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
Mr. Chair—
4:10 p.m.
Liberal
The Chair Liberal Wayne Easter
Mr. Davies, we're out of time.
I believe Mr. Davies alluded to this earlier in terms of the C Series. It's being made in Montreal. Am I correct in that?
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
I would love to give a clarification.
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
The position of the department is that the funding provided for the C Series development will be repaid over time. I will make that statement. Second, Bombardier is current in respect to any repayments that it does make.
4:10 p.m.
Conservative
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
This is a long-term endeavour. The C Series is now over—
4:10 p.m.
Conservative
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
There is no movement of IPO or production. It's happening in Mirabel.
4:10 p.m.
Liberal
The Chair Liberal Wayne Easter
The production is happening in Mirabel, and jobs are being created in Mirabel.
4:10 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
Airbus is leading that program. We will be repaid.
4:15 p.m.
Liberal
Peter Fragiskatos Liberal London North Centre, ON
Thank you, Mr. Chair, and thank you to the officials for appearing today.
I want to establish a context here. I want to move from the general to the specific. I have a question on unemployment, and perhaps this is more suited to finance. Either way, in 2015, what was the rate of unemployment compared with 2020?
4:15 p.m.
Senior Assistant Deputy Minister, Industry Sector, Department of Industry
Mr. Chair, I apologize. I appreciate the question. It's straightforward, but it would be best if a finance official would provide that information. I don't have any notes on the level of unemployment at that time.