Mr. Speaker, I will be splitting my time with my colleague, the member for Terra Nova—The Peninsulas.
I rise in strong support of the amendment put forward by my colleague, the member for Leeds—Grenville—Thousand Islands—Rideau Lakes to stop the payment of 20 million tax dollars that would otherwise flow to Maritime Launch Services, pursuant to the government's main estimates.
These 20 million tax dollars are part of the 10-year, $200-million lease the Liberals entered into with Maritime Launch Services to lease land that consists of a concrete slab and a gravel parking lot. “Do not worry,” say the Liberals. “It is not just any gravel parking lot. It is not just any concrete slab. It is the site of Canada's new sovereign spaceport.”
Needless to say, there are all sorts of questions surrounding this $200-million lease. They are questions that the Liberals have refused to be transparent about. In fact, the Liberals, at virtually every turn, have obstructed and refused to answer the most basic of questions. It is not only that. They have hidden the lease from Canadians. They do not want Canadians to know where 200 million tax dollars are going.
What sorts of questions are there in relation to this $200-million lease? To begin with, the government could acquire land for the site of the spaceport in the Canso area for approximately $2.5 million, but instead, the government is leasing land for $20 million a year at a cost of 200 million tax dollars over the span of 10 years. How does that make sense?
For Maritime Launch Services, it is a pretty good deal. Guess why. It does not own the land. It leases the land from the Province of Nova Scotia for $13,500 a year and then flips it to Ottawa at a 1,300% profit. It must be nice to be Maritime Launch Services. It is not so nice for everyday taxpayers.
One might say Maritime Launch Services brings a certain level of sophistication and a certain level of expertise in developing Canada's supposedly first sovereign spaceport, but then the question becomes, “What is Maritime Launch Services?” It turns out that Maritime Launch Services is nothing more than a two-bit, six-person company. Despite its name, Maritime Launch Services does not have a history of launching much of anything. It has been in business for 10 years now and it has launched precisely nothing, zilch, into space.
To be kind to Maritime Launch Services, in the span of two years, it has had two suborbital rocket launches, one of which was a model rocket from York University's model rocket club. Again, it was a model rocket from a university's model rocket club. This is the company the Liberals are entrusting to develop Canada's first sovereign spaceport. They have to be kidding.
The chair of the board is Sasha Jacob. He has a history, and it is not a pretty history, of securities infractions. Indeed, he has the dubious distinction of being fined $100,000 for securities infractions and securities irregularities. That is not good, to say the least. It begs the question: Why are the Liberals doing business with and handing $200 million to a company whose chair was fined $100,000 for securities infractions?
Given that the scope of the business of Maritime Launch Services involves collaborating with university model rocket clubs, it is no surprise, perhaps, that Maritime Launch Services has not exactly been the most successful company and not the most successful business. In fact, their 2025 financial statements report a massive loss of $47 million and revenue under $15,000. In fact, the independent auditor's report stated that “material uncertainty [exists] that may cast significant doubt as to whether the Company will have the ability to continue as a going concern.”
In other words, Maritime Launch Services was on the verge of bankruptcy, that is, until the Liberals bailed it out with this sweetheart $200-million 10-year lease on land that Maritime Launch Services does not even own. It really begs the question: How is it possible that a company that has six employees, that has not launched anything into space, that has a chair of the board with securities infractions and that was on the verge of bankruptcy managed to land a $200-million lease with the federal government on land that they do not even own and which consists of a concrete slab and a gravel parking lot?
The answer to that, of course, with the Liberals, is that Maritime Launch Services is comfortably associated with none other than Liberal insiders. The chair of the board who I referenced, Mr. Jacob, is associated with major Liberal insider Gerald Butts. There is then Stephen McNeil, the former Liberal premier of Nova Scotia, who conveniently sits on the advisory board of Maritime Launch Services.
There is the chief lobbyist for Maritime Launch Services, who is none other than a former senior staffer to the Minister of Justice, whose riding happens to be situated next to the launch site. Perhaps that explains how Maritime Launch Services got this sweetheart lease.
The lease is not about developing Canada's first sovereign spaceport. It is about Liberal insiders getting rich while taxpayers foot the bill. That is precisely what has happened up until now. I say that because another question is that the subject lease, even though it was entered into on April 1 of this year, was backdated to April 1, 2025.
Why was the lease backdated to 2025? The effect of backdating was for the Liberals to then immediately funnel $20 million to Maritime Launch Services, to bail out the nearly bankrupt company.
Guess what happened? The chair of the board, Mr. Jacob, immediately turned around and sold $3 million of previously worthless shares, pocketing a cool $1.8 million. It must be nice to be Mr. Jacob. It must be nice to be a Liberal insider. It sounds like one big pump and dump scheme to me.
Given the questions and the cloud that hangs over Maritime Launch Services, and the Liberals' complete lack of transparency, it is important that $20 million of hard-earned tax dollars do not go to Maritime Launch Services until those basic questions are answered and the air—