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Finance committee I guess there are a few things that I feel I can follow up on in terms of information points, but I think a lot of what you're hypothesizing is in the realm of conjecture, and I'm not going to be able to comment on it. A $17-billion figure isn't something that—
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee That has not come to my attention. That's a number you've said, but that's not a number that has come to my attention. First and foremost, this is a project that is being undertaken from a commercial mindset, and the Crown corporation responsible would have in mind its ability t
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee The $7.4 billion was to cover the portion of construction that had already taken place.
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee No, the—
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee Yes.
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee The $7.4 billion is the construction cost.
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee The entity does not have the ability to simply flow its costs through for payment by the government.
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee I mentioned, for example, that the corporate plans must be approved, and I probably didn't say that they go through a process that involves approval by the Treasury Board. I'm sure you would have seen corporate plan summaries of various entities tabled recently in Parliament as w
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee The estimate that has been released publicly by the board is quite old at this point. It's the $7.4 billion that I'm sure you have seen.
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee Projects of this nature that have encountered significant uncertainties and delays on an already very large infrastructure project.... My experience in seeing infrastructure projects is that costs tend to go up over time. I wouldn't be surprised if that's the direction, based on
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee Yes. The Crown corporations in any government minister's portfolio are responsible to provide corporate plans. As I mentioned in passing on the question of accountabilities, the overall planned activities and the cash or the capital requirements of Crowns run through an appropria
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee There are different instruments for different Crown corporations, but if we're talking about the Trans Mountain Corporation, which I think we are—
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee —to date the financing has been untaken on the EDC Canada Account. The Canada Account involves a statutory appropriation versus a voted appropriation. I think it would be premature for me to comment, going forward, on how future costs related to the projects would be financed,
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee The Canada Account is a construct that exists through the legislation. The act is the Export Development Act, so it's—
February 3rd, 2020Committee meeting
Evelyn Dancey
Finance committee It does create the statutory appropriation. On EDC's website there is a disclosure about the transactions that have been undertaken on the Canada Account.
February 3rd, 2020Committee meeting
Evelyn Dancey