Madam Speaker, I would like to ask a question of my colleague from Kings—Hants, for whom I have the utmost respect.
It is the same question I asked of the Liberal member opposite. He probably was a young student in 1982 and he may not remember why Bill S-31, limiting to 10% the ownership of any company by a buying company, was introduced at that time.
The Caisse de dépôt et placement intended to get substantial ownership of Canadian Pacific. The prime minister of the day—all the members will recall that it was a certain Pierre Trudeau who did not like Quebec very much and who feared Quebec's influence in everything—had Bill S-31 passed. It was to prevent the Caisse de dépôt et placement du Québec from buying Canadian Pacific. I must tell you that it was not the loftiest of initiatives.
Now we see that the government, to favour its friends, to allow the Liberal Party's bagman buy Air Canada, will use this legislation to let Onex become part owner of Air Canada and Canadian Airlines.
I hope my colleague from Kings—Hants will remember that. I wonder if he would like to comment on that.