The big zero is on the other side and perhaps he can ask the question when I am finished my speech.
Somewhere you have to have a little faith. This issue has been one where it has been difficult for me to put faith in a large privatized corporation.
Over the last number of years, as we all change when we are exposed to new things, I have changed a great deal. When I started in politics in 1988 I really believed that government had a large role to play in my economy in Atlantic Canada than what I do believe today. I know that governments in the past through protectionism, through regulation, through transfers, through regional development programs and policies have tried to do something to create economic growth but by and large they have failed.
In places like Atlantic Canada far too often we see the wonderful entrepreneurial spirit which built that part of the country over hundreds of years crushed because of inappropriate government
supports and transfers. Clearly, the people in my part of the world, my sons, daughters and family want to be able to work and live in Atlantic Canada. In order to do that public modes of transportation, all modes, be they rail, road or air, must be as competitive as possible. As a government or a Parliament we may think we can protect those industries, but we cannot protect them from the competition from south of the border and competition which is now upon us from all over the world.
I know we can succeed in Atlantic Canada. This bill is a step in the right direction. The reduction of regulation and the privatization of CN both will inevitably lead to a more competitive CP. The recently constructed Sarnia tunnel means we will be able to attract a volume of traffic necessary from the Chicago markets to come in through Halifax instead of Baltimore and New York and thus create jobs in Halifax and along the Canadian line down into the Chicago markets. In order to do that we must increase our volume so that we will have full train loads leaving Halifax and going straight to the yards in Chicago.
We have some way to go, but I am absolutely confident that those who are responsible for public policy and those responsible for the entrepreneurial zeal in Atlantic Canada will seize the opportunity and CN will see the rail line from Halifax to Montreal as an important profit centre, not as a cost centre.
With the advent of things such as short line operations, because the bill allows for easier establishment of short line operations than did past legislation, it will ensure that there is a competitive rail link. A rail link is absolutely essential to the economy of places like the port of Halifax.
Nearly $400 million a year in annual net revenue is generated in a city of 320,000 people by the fact that container traffic and bulk cargo comes into our port. It is not for distribution to local markets but serves central Canadian and northeastern and central U.S. markets.
In the tough times of the recession we did not shrivel up and die. CN was not competitive. Rates were too high because of regulatory burden. We have succeeded in the tough times. In the good times that are to come through expanding trade this type of legislation will assist my part of the country to take its rightful place as an entry and exit point to the North American market. Maybe the bill will go a long way to establishing a dream worth pursuing, the establishment of the port of Halifax as the NAFTA port north.
I support the bill with some reservations. However, I will be vigilant during the years ahead to make sure that this newly privatized company does not abuse the new regulations it has been given, but that they are used to ensure that the line between Halifax and Montreal is as competitive as possible.