Ms. Kelly Gillis at the Industry, Science and Technology Committee

On March 15th, 2012. See this statement in context.

March 15th, 2012 / 5:20 p.m.

Chief Financial Officer, Comptrollership and Administration Sector, Department of Industry

It's the bad debts related to the loans.

With small business loans, the banks make them and we provide a guarantee for 15% of the amounts. When the loans do not perform well, we give a small amount to the banks. This is an estimate of the reduced amounts we have to give to the banks. It does not affect the loans themselves or the amount of those loans.

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