Mr. Speaker, indeed there does seem to be great interest in the stock offering. Many potential Canadian purchasers have been unable to buy shares because of the large percentage offered outside of Canada.
Will the parliamentary secretary please explain to the House and to Canadians why the government rejected the Reform amendment to Bill C-89 which would have seen the share offering to Canadians and Canadian companies only for the first 60 days and would result in Canadian National Railway's remaining in Canadian hands, instead of intentionally selling 40 per cent to 50 per cent to foreign investors.