Mr. Speaker, and I am a proud maritimer who did not go down the road.
It gives me great joy to respond to the hon. member for Fraser Valley West and to remind him that on December 7, 1994 the minister for ACOA delivered an address which charted a new course for regional development in Atlantic Canada. That was the outlining of the Team Atlantic approach to private sector job creation and an end to grants to business.
He said that within a couple of months ACOA would be releasing the policy and hey, guess what? February 7, two months to the day later, ACOA released the new policy this afternoon to make direct assistance to business repayable. I do not know when members opposite will learn that when this minister says he is doing something he does it.
This new direction for ACOA will make 100 per cent of direct assistance to business under the action program fully repayable on a fixed timetable. This new policy was established in consultation with provincial governments and business which support complete repayability.
ACOA will continue to make unsecured risk capital available for small and medium sized enterprises, SMEs. We have heard the concerns of SMEs which stated that access to capital is the key to success. This patient capital allows business to become successful before repayment is required.
I was glad to hear that the leader of the Reform Party supports the government's direction in this matter as he stated on the CTV news in December 1994 that it was a step in the right direction. However, it is unfortunate that the member continues to spuriously attack the only agency of government devoted exclusively to the needs of Atlantic Canadian business. This must reflect some underlying attitude.
I say we should stand and congratulate the minister for the constructive solutions he is offering to the problems confronting the region. We know what the problems are. We know that ACOA, not FBDB, is the answer to those problems and we are going to get on with the job.