Mr. Speaker, the situation is as described by the Secretary of State for International Financial Institutions. There was an agreement with the previous Conservative government, and it is our tradition and obligation as a government to respect agreements of this nature signed by our predecessors. At this time, there is nothing we can do.
If a similar document was submitted to us today, without the obligations we inherited from the other government, we might make a different decision. However, this is a private contract and because the previous government changed its mind, the American company took advantage of the situation, as provided by the contract, and as the government, we had to respect our obligations.
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