Mr. Speaker, while testifying before the finance committee, the Canadian Association of Petroleum Producers spoke in favour of the government's proposed technology fund contained in Bill C-43. Its president said:
Canada needs to increase its investment in new technology. The policy direction for LFE targets includes an innovative feature that recognizes the importance of technology development.
This initiative has the support of industry, it has the support of the environmental community and it has the support of government. Can the Minister of Finance explain why the Conservative Party turned its back on industry and defeated this initiative?