I will just say that we had quite questionable testimony from the minister, who didn't seem to understand the deal and the terms of the deal on the $2.1 billion that he had signed off on in a loan to Telesat, which is a company that's at least 63% owned by American hedge funds. The minister didn't seem to understand that fact, and neither did the department. I don't think they had done their homework.
It's to put up 198 satellites at a cost of somewhere between $10 million and $20 million a satellite. This is quite a huge commitment from the Government of Canada, to be subsidizing an American firm that has had failing revenue. The interest costs will now equate to about two-thirds of the revenue this company has, just on the debt, when you include this loan.
I believe it is our responsibility as members of the industry committee to look into bailouts of American companies, which is what the industry minister has tried to do.