Mr. Speaker, the transfer of Pearson to the local authority, the Greater Toronto Airport Authority, took place on December 2 and was very successful. I am delighted that we now have Pearson in the hands of local people from the greater Toronto area who represent all facets of the municipalities and the people involved in operating the airport and using it. They will be able to exploit all the advantages for Pearson.
We want Pearson to be the premier airport to the east of the Mississippi, the central point for connections from Europe and that entire region of North America. To achieve this, approximately $2 billion of expenditures and upgrading at Pearson airport are needed over the next few years. I am confident that the new administration we have put in place at Pearson and the transfer of the airport to that new authority will result in Pearson taking its rightful place as the gateway to Europe for all that part of North America.