Discussion · Adjournment Proceedings
Greg McLean Conservative
“The government gave 20 million dollars to a private company with no oversight. Company leaders took the money, sold their shares, and kept the profits. If this company goes broke, taxpayers will lose their money. I want the government to tell us what will happen with this money.”
“Mr. Speaker, I appreciate the answer. The $20 million in arrears, there is no excuse for. There is no Treasury Board Secretariat oversight of how that money was spent. It was spent in the year before the government threw the money out the door and immediately into the pockets of a private sector organization in order to get the ball rolling. It is exactly how government should not be operating, particularly when the people it is giving the money to flush the shares out and put the money in their pockets. I do not know if it even knows what a share lock-up agreement is, but it is a repetitive pattern, including with everything the government says is in urgency, much like with Lion Electric, which is being investigated by the RCMP this week because of what it did, in exactly the same format of funding the public companies and all of the principals taking the money out when they pump the stock up and running away. When this goes bankrupt, if this goes bankrupt, then the Canadian taxpayers are going to end up holding the bag again. Will my colleague tell us what is going to happen?”
Mr. Speaker, I appreciate the answer. The $20 million in arrears, there is no excuse for. There is no Treasury Board Secretariat oversight of how that money was spent. It was spent in the year before the government threw the money out the door and immediately into the pockets of a private sector organization in order to get the ball rolling. It is exactly how government should not be operating, particularly when the people it is giving the money to flush the shares out and put the money in their pockets. I do not know if it even knows what a share lock-up agreement is, but it is a repetitive pattern, including with everything the government says is in urgency, much like with Lion Electric, which is being investigated by the RCMP this week because of what it did, in exactly the same format of funding the public companies and all of the principals taking the money out when they pump the stock up and running away. When this goes bankrupt, if this goes bankrupt, then the Canadian taxpayers are going to end up holding the bag again. Will my colleague tell us what is going to happen?