Finance Committee on March 10th, 2020

[Andrea Johnston]

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.

[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.

[Andrea Johnston]

Are you asking me under the strategic innovation fund?

[Michael Cooper, Conservative, St. Albert—Edmonton, AB]

That's right.

[Andrea Johnston]

I don't have the list of projects that are repayable or non-repayable.

[Michael Cooper, Conservative, St. Albert—Edmonton, AB]

Could you provide the list?

[Andrea Johnston]

We can. We would be more than happy to provide that list.

[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.

[Andrea Johnston]

I don't have that number with me, but we would be happy to provide the list.

[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?

[Mitch Davies]

Mr. Chair—

[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?

[Mitch Davies]

I would love to give a clarification.

[The Chair, Liberal, Wayne Easter]

Mr. Davies, go ahead.

[Mitch Davies]

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.

[Michael Cooper, Conservative, St. Albert—Edmonton, AB]

Over time, but the question is when?

[Mitch Davies]

This is a long-term endeavour. The C Series is now over—

[Michael Cooper, Conservative, St. Albert—Edmonton, AB]

You can't provide a date. There is no date.

[The Chair, Liberal, Wayne Easter]

Mr. Davies.

[Mitch Davies]

There is no movement of IPO or production. It's happening in Mirabel.

[The Chair, Liberal, Wayne Easter]

The production is happening in Mirabel, and jobs are being created in Mirabel.

[Mitch Davies]

Airbus is leading that program. We will be repaid.

[The Chair, Liberal, Wayne Easter]

Mr. Fragiskatos.

[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?

[Mitch Davies]

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.