Mr. Speaker, this is the same kind of non-answer that I got from the Minister of Finance on April 1, and the member talks about something entirely different.
When this Canadian contribution was made, the Newfoundland government also made considerable sacrifices in helping this project work with tax exemptions, tax reductions, a favourable royalty regime, and there was not much in royalties in Newfoundland until the price of oil rose recently.
This transfer is needed to try and redress the kind of imbalance that occurred as a result. It was never intended to be a windfall for the Government of Canada. Newfoundland is supposed to be the primary beneficiary of its offshore resources. Until recently, the Government of Canada was in fact getting 80% of all government revenues from that project and the Newfoundland government was getting 20%.
Will the government recognize that and do the right thing by transferring that share to Newfoundland and Labrador for a reasonable price?