Mr. Speaker, less than one year after we gave Buhler Versatile Inc. a $32 million unsecured interest free loan to build farm tractors in Winnipeg, it now says it is moving the plant to Fargo, North Dakota, and there is nothing in the loan contract to stop it.
Even worse, it is now revealed that the purchase price of the plant was only $28.5 million. We gave them $32 million, 115% of the total value.
John Buhler is breaking his side of the bargain to build tractors in this country. I want to know what the Minister of Industry will do to cancel this loan agreement and to recoup every penny of taxpayer money from this bogus loan?