Mr. Speaker, first I will point out that the registry is an amazing initiative in that we have collaboration and support from all provincial and territorial governments.
Second, I will be looking forward to the member and other members in the House supporting additional funds for this initiative. Initially it will be around $40 million. However, now that we have this registry in place, there is no question that we need to ensure it continues. In fact, technically it will end at the end of March next year.
Therefore we need the support of all members to ensure this continues because not only is it a good example of federal, provincial and territorial cooperation, but it is in fact essential. I never want to get up again and have to say that we have lost more historic buildings and sites in this country. It is my personal view that it is a national disgrace that we have lost 20% since the 1970s. This type of registry program is in existence in the United States, France, Great Britain and Australia. Therefore, it is essential that we support it financially and otherwise.
In terms of commercial properties, in this case the hon. member's point is well taken. Essentially what we are looking at is providing commercial owners who purchase an historic property with the many opportunities, avenues and assistance needed to maybe open a restaurant, a store, or a community centre, something of value, rather than tearing down an historic building and having it go to landfill. The building could be restored to its historic glory in terms of customizing, which means going back to the nature of the doors, the windows and the soffits. Anything to do with these buildings will be taken care of. That is why the registry is important. That is why information in the most minute detail is there.