I think the comments were looking back at the last number of years. Once again, referring to the infrastructure programs, through the course of the last number of years, we enjoyed support in the order of something to the tune of $350 million of infrastructure funding through Canada that was matched roughly 50% by the private sector, so $700 million worth of, I'll call them, first and last mile improvements. That was followed by about $2.8 million worth of terminal investments, some of which you mentioned in your question. Certainly from the perspective of those seeking to continue to grow in Vancouver, I think that was a very positive response from that previous policy direction.
I think the concern with Bill C-69 that has been expressed is with regard to the current permitting role the port plays, and many of those $2.8 billion worth of projects were undertaken through the permitting process delegated to ports in this country under the Canada Marine Act.
The proposal that appears to be embedded in Bill C-69 would change the threshold of projects. Our concern, of course, is that many of those major projects—some of the grain projects in particular, with the very large new terminal we have under development—would be classed as a designated project. In other words, that review would be centralized in the new agency under the new act. Our concern is that bringing the projects to fruition would be caught up in a much more complicated and time-consuming process, deteriorating Canada's competitiveness with regard to that particular sector.
It remains a concern; and we're anxious to see how the legislation and the regulations unfold.