Mr. Speaker, the PC government of Newfoundland and Labrador was finally able to do what Liberal governments could not do. Despite years of Liberal anti-oil policies, they finally signed the deal for Bay du Nord. This will bring $6 billion of royalty revenue to the province, and 95% of its subsea work was guaranteed for the province, which is estimated at 31 million man-hours over its lifetime. To sweeten the pot, Equinor and BP agreed to build a floating dry dock to equip our province for long-term employment in shipbuilding opportunities.
This is a good deal by Premier Wakeham, and I will fight to make it even greater. Currently, the contracts to build the FPSOs are on tender, and we should make sure that they are built in Newfoundland and Labrador.
Will the government reinstate the oil and gas investments back into the Atlantic investment tax credit to lower taxes and give local companies a fighting chance?