Mr. Speaker, I thank the member South Shore—St. Margaret's, as well as my colleague, the Minister of Transport, for this important active assistance that they provided.
Yesterday's announcement was the result of a rapid and effective response by the government with respect to this looming crisis left by our predecessor government. We worked with partners, municipalities and provinces to make this happen with Bay Ferries. We have found an interim solid solution going forward. The economic impact of this particular crisis and the ferry service is approximately $20 million annually, which is five times the investment of the federal government to find a solution.
The Government of Canada will continue to work with all the stakeholders. We will work to promote the service and increase tourism and industry across Atlantic Canada.