Mr. Speaker, the hon. member, either on his own or with his party, was not comfortable with the Government of Canada stepping in, or I suppose a provincial government could as well, as a reinsurer or a guarantor. I take it he is referring to the guarantee piece for a government. My understanding of the bill is a government could become a guarantor of a insurance contract or be a surety for a reinsurance contract.
The member is correct in suggesting that having the government do it is a non-market mechanism in many respects will appear to be a benefit or a subsidy to the nuclear industry. However, it is also a fact that it is highly unlikely we would have any nuclear capability in our country if it were not for a government infrastructure that regulated it in the first place. Most people will recognize that the essential component of the nuclear industry carries a lot of risk with it. It is simply not something we can carry around in our back pocket. Therefore, the presence of the government should not be a surprise.
I know the bill offers the potential, with government approval, of normal insurance-reinsurance mechanisms so the risk is spread around and the costs of the insurance are kept within reason.