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Public Accounts committee If I'm not mistaken, I think the report from the Auditor General was highlighting that, as the initiative moved forward and as money was put out into the economy, there should be better reporting to Canadians on results and how the money was being deployed. I think it was on a go
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee I'll take a run at it, but maybe my colleagues will chime in as well. Private sector investors would have the same interest as the Government of Canada in monitoring their investment. They would certainly be watching the progress of the investment and its performance. That does
September 29th, 2016Committee meeting
Richard Botham
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee That's correct.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee Nor I.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee If I understand you correctly, the government cost of capital should be taken into account when the government thinks about what the return is on that capital, and there should be some kind of adjustment made for that to get a real rate of return given that the money was borrowed
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee As I indicated, I have not given it a lot of thought. But since you just raised it, it seems to me the relevant adjustment is the government cost of capital in this case.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee That went by very quickly, but I would say I think the math....
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee No, that's fine. The math is a little different from that, I think. So $350 million of Government of Canada money across four funds, which total $1.35 billion.... I think the calculation is really, government accounts for 25% of the total capital—
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee So far....
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee But there are two things, I guess. One is, that is a milestone along the way because not all capital has been committed, and not all capital has been deployed.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee The point is that the Auditor General has made it clear that one of the key indicators is how much money is going into companies, and what is company performance at the end.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee It's for that reason that's part of the reporting.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee No. Maybe I'll walk you through it.
September 29th, 2016Committee meeting
Richard Botham
Public Accounts committee It's a complicated question. I'll walk you through it quickly. I'll even speak faster.
September 29th, 2016Committee meeting
Richard Botham