International Trade committee  That's correct.

International Trade committee  The program will run until 2011.

International Trade committee  Just as an introduction, most parties, if they understand what the SFF is--it's the structured financing facility, and the program is to provide financing support to domestic and foreign shipowners, reducing their interest costs when they choose a Canadian shipyard for vessel con

International Trade committee  That's correct. We have disbursements of approximately $3.5 million of commitments and signed commitment contracts for approximately $14.3 million, which brings our total down to approximately $28.2 million.

International Trade committee  Yes. The program does terminate in 2011.

International Trade committee  With all due respect, Industry Canada's presence here today was to speak to issues related to EFTA and the shipbuilding. I'm not at liberty, nor do I have the knowledge base, to answer that type of question.

International Trade committee  From all indications, we are.

International Trade committee  The simple answer to that is that given the volume of vessels that have been built in, let's say, a country like Norway over a period of time, one finds that the actual cost of constructing a vessel will decrease as the number of vessels produced increases. It's what we call the

International Trade committee  It's my understanding, as previously mentioned, that a foreign company may be able to utilize a capital cost allowance regime within their country, but I don't see how that can apply in Canada.

International Trade committee  I think that was my point. A domestic applicant to the SFF would have the option of utilizing the SFF or the ACCA.

International Trade committee  Right. A foreign company can make use of the benefits of the SFF but not within the Canadian tax regime.

International Trade committee  That's correct.

International Trade committee  Clearly part of the intent of the SFF is to ensure that the capability and capacity exist in Canada to help realize the procurements that have been identified, the $43 billion worth over the next 30 years, and also as identified in Budget 2009, the $175 million for coast guard ve

International Trade committee  Correct. Sorry, you have my apologies if I misled you.

International Trade committee  That's correct.