Madam Speaker, I listened with great interest to the member speak to the bill. I have had the privilege of speaking before in the House of Commons to that bill. I have also paid attention to the testimony that we got before committee on the bill.
I would like to start into a long speech, but let me just limit my comments today about what I think are false claims the member is making with respect to the liability standards that exist in other countries.
The government claims that the $650 million limit is based on international standards, the capacity of the insurance industry and the likely cost of an accident. I think it is wrong on all three fronts.
Let me just remind members what we heard at committee with respect to international standards. Most countries of similar GDP have much higher limits. Germany has unlimited liability and a $3.3 billion financial security requirement. The U.S. has $10 billion in pooled insurance. Japan has $1,300 million. Sweden, Austria and others are moving to unlimited liability. The limit of $650 million is at the bottom of reasonable international standards.
When we talk about the insurance industry capacity, the Nuclear Insurance Association of Canada testified at the committee that it has increased its capacity and can now offer more than $1 billion in coverage. If the coverage is available, our law should require it.
Last, with respect to the likely cost of an accident, the department based its cost estimate on a risk study that was restricted to a minor accident at a small plant far away from population centres. The report author recommended repeating the analysis for serious accidents for larger plants near population centres, like Pickering and Darlington where, of course, we have a nuclear plant. The government failed to respond to this one simple and significant recommendation. As a result, the estimate of the cost of a nuclear accident is far too low, and I think undermines the $650 million limit.
I would like the member to respond to those concerns, because they are not just concerns raised by us on this side of the House. As I said, those concerns arise out of the testimony that we heard at committee about this very bill the last time it was introduced, and I do not think in this new version the government has done its homework. I do not think it has addressed any of those issues.