Thank you, Mr. Chair.
Good afternoon to you, Mr. Ferguson, and to your colleagues. Welcome. It is always good to have you here.
I want to state for the record that I'm always impressed with the volumes of information you are able to provide us on oversight, allowing us to do our jobs more effectively. I thank you for that. It is helpful. It generates great discussion, and obviously these reports generate great reaction that makes our government better at doing its job.
With that, I'd like to begin, if you don't mind, by turning to section 5 on the automotive sector. I've been reading quite a bit about the report in the media and hearing lots of input regarding different sections and content of this report. I'd like to address an area of concern that I have and to seek your assistance. That is with regard to the moneys that were earmarked or designated for the pension issue, paragraph 5.46 specifically. In your report you note that, “$1 billion of the $4 billion that had been earmarked for GM Canada’s pension plans and placed in a separate account was paid instead to the US parent company.”
What I'd like to know is whether there were any conditions put in place upon the release of that $1 billion to the parent company.