Mr. Speaker, again, the rhetoric is at fever pitch. With respect to the $10 million loan guarantee, the Auditor General noted in her report that this was a loan guarantee made by the last Conservative government, the friends of my friends across the way. A majority share of Canarctic Shipping Company Ltd. was owned by the government. Furthermore, the loan guarantee was never exercised at all, so no money was ever paid out.
In the House of Commons on November 23rd, 2004. See this statement in context.