Mr. Speaker, we have just learned that Export Development Corporation has lent billions of dollars of Canadian taxpayers' money at below market rates to Union Pacific Railroad of the United States. This is only the latest example of the Liberal government's corporate welfare policy to large U.S. companies. EDC subsidized Northwest Airlines' purchase of Canadian jets to the tune of billions of dollars just a year ago.
Why do taxpayers of Canada have to subsidize yet another large American company worth over $30 billion?