Madam Speaker, a number of executives of the CBC's board specifically indicated that this bridge financing would not have helped the CBC. Let me clear, it would not have prevented the layoff of 800 employees at CBC. It would have had to make those changes anyway.
The board of the CBC worked within its budget and it came up with a plan on how it was going to bridge itself through it. That is responsible. It is the right thing to do.
Canadian taxpayers ultimately are the ones who are providing the bulk of the support to the CBC. They want it to provide the broadcasting and the content that they have come to expect. They want the CBC to do it in a manner that is financially and fiscally responsible.
Believe me, we are very saddened by the job losses at CBC, but a bridge loan would not have changed that.