Mr. Speaker, the Liberals would have us believe that private-sector money is going to fall from the sky without any strings attached.
During the election campaign, the Liberals said, “Interest rates are at historic lows, our current infrastructure is aging rapidly....Now is the time to invest.”
The last time the government borrowed money, last month, the interest rate was very low, 1.3%. The private investors who are going to invest in this bank are looking for a 7% to 9% return on their investment. In other words, Canadians are being asked to pay five times as much in order to line the pockets of Liberal cronies on Wall Street and Bay Street. Why?