Thank you, Mr. Chair.
Mr. Benedict, airport financing in Canada is heavily concentrated in the airports of the country's major cities. However, some regional airports play a key role in the economic and tourism development of remote regions.
I want to discuss the airports capital assistance program. We've met with various stakeholders who have told us that increasing the program's budget and reviewing its financing criteria would help develop and reinforce regional airports.
This program was introduced in 1995 and has operated on a $38 million budget that, according to the Canadian Airports Council, hasn't been increased and has remained at the same level for 30 years. Funding from the program is used to refurbish runway facilities, purchase life-saving equipment, fight aircraft fires, purchase heavy mobile equipment and improve airport security. In the council's view, it would cost at least $95 million to improve the small regional airports. The Union des municipalités du Québec believes that might help improve one airport a year.
Could the capacity to invest those amounts of money help your industry and lower costs to consumers?