Mr. Speaker, I thank the hon.
member for the unexpected question and share with members of the House that the Atlantic region is the only region of the country that does not have a venture capital fund.
On behalf of the Government of Canada and the four Atlantic premiers I met with representatives of the chartered banks. We had a very comprehensive and detailed discussion on such a proposed fund as an Atlantic venture capital fund. We assured representatives of the banks, I on behalf of the Government of Canada and the premiers on behalf of the provincial jurisdictions, that in no way would governments want to operate such a fund as the Atlantic venture capital fund.
As a result a working committee has been struck. It is being led by the president of ACOA. We are working on a regular basis with the banks.
I hope in due course I will be able to come back to the House and provide more details relating to the Atlantic venture capital fund enhancing opportunities for businesses in Atlantic Canada.