Mr. Speaker, I will read from the Speech from the Throne where it states that the government recognizes:
...the strategic importance of a strong domestic shipbuilding industry, it will continue to support the industry’s sustainable development through a long-term approach to federal procurement.
As part of Canada's economic action plan, the government did announce an investment of $175 million for the procurement of new Coast Guard vessels and to undertake vessel life extensions and refits for aging vessels. The government took action to extend the structured financing facility until 2011 and invested an additional $50 million in the program.