Mr. Speaker, Westaim is a successful corporation with a major plant in my riding. For 30 years it has been supplying Canada and many other countries around the world with high quality materials from which coins are stamped.
The company has had an exceptionally good working relationship with the Canadian Mint providing blanks for most of Canada's coins, including the $1 and $2 coins. But the Canadian Mint has now been authorized to spend $30 million to build a plant in Winnipeg to compete with Westaim.
The government's claims of savings are greatly exaggerated. Furthermore, when we were told that this will create 100 to 130 jobs in Winnipeg, no mention was made of potential job losses in my riding.
It is a mystery. Why would the government risk $30 million to get into a business which is in a worldwide state of oversupply and which could result in the loss of up to 100 jobs in my riding?