Mr. Speaker, it seems to me that it should not matter where a nuclear power plant is located. Whether it is in Canada, or the United States or Germany, they should have pretty much the same limits of liability because, at the end of the day, the damages will be roughly the same.
It is my understanding that Germany and Japan have unlimited liability. I assume that if we cannot get enough insurance on the private insurance market, then the country itself will backstop the lack of insurance.
Insurance is a very fluctuating market. In some years we can get multiple millions of coverage and then just as abruptly over a period of a few months, the markets will dry up and we will maybe get half of what we had the year before, for four or five times the price. It is a very difficult thing to try to determine what sort of private insurance will be available at any given time.
It seems to me that we should be going to the highest standards here, not to the lowest. If Japan and Germany have unlimited liability, that is exactly where we should be as well.
I also point out that in the United States it is $10 billion, which is more than 15 times higher than what is being proposing in the bill. Clearly, something has to be done about this at the committee stage to rectify this problem.