Mr. Speaker, the hon. member touched on a few different items and, first, I will deal with the marine portion of his question.
Importantly, he touched on one piece I did not mention in my remarks. It is with respect to changes in eligibility for different kinds of financing that have been made available to Canadian ports, and specifically the Canada infrastructure bank. Right now there are hundreds of millions, I think we are deep into the trillions, of foreign capital that is currently invested in negative yield bonds.
The Canada infrastructure bank is going to open the market that will see global capital come into interest-bearing investments. They are usually for profit-generating infrastructure, such as Canadian ports. By expanding the financing eligibility to Canadian ports for the Canada infrastructure bank, we can see significant port expansion. When we are engaging in deals like CETA, or dealing with new international trade agreements around the world, we will see investments that will grow our ports and expand our ability to get our goods to market.
Also, the hon. member mentioned the foreign ownership restriction that has been moved from 25% to 49%. We are already seeing discount airlines come into Canada. This is bringing the price down and increasing service to secondary markets that are not very well served or not served by discount airlines today.
The final question that he referenced was the need to prevent one person from monopolizing that 49%, which would give them close to an individual majority control. This is an important limit on power.
We see similar kinds of limits in the rail sector with CN, for example, to prevent one foreign interest from snapping up a large enough portion that they could control the decisions of a company. This is important when dealing with competitors south of the border that might try to drive traffic from Canadian airports south of the border, as it could defeat the purpose of an efficient transportation system in Canada.
With these limits in place, I am very comfortable we will improve service for Canadians.