Mr. Speaker, over the years western economic diversification has sunk taxpayers' money into all kinds of projects: the Custom Gourmet Coffee Shop, Dave's Pizza, Imperial Oil. Even Novatel had the pleasure of receiving taxpayers' dollars courtesy of WED.
Today taxpayers can take delight in knowing their hard earned dollars are going to yet another worthy project, the Artificial Reef Society of British Columbia. WED is loaning $160,000 to this group so it can buy a ship from DND. It wants to use government money to buy a government ship so it can be towed out to sea and sunk.
What an investment. To top it off this group claims it will pay WED off by selling salvaged boat parts. We hear old boat parts are selling like hotcakes. WED will be repaid its $160,000 in no time flat at the used boat flea market.