Aerospace Industry

In question period, the aerospace industry came up, specifically a defence department contract for access to a spaceport. Greg McLean of the Conservatives said the government signed a $200-million contract for a spaceport the company itself leases for about $14,000 a year, that the contract was backdated a year, and that people connected to the company made large profits; he asked who would take responsibility. Defence Minister David McGuinty responded that the deal supports Canadian sovereign space launch capability, which he said would bring billions in investment, create jobs, increase sovereignty and reduce reliance on the United States, and he added that the Conservatives had voted against measures supporting the Canadian Armed Forces.Written by AI from the debate. Updated .

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2 statements

Greg McLean, Calgary Centre

Conservative
“The defence minister signed a $200-million deal with a struggling company to use a spaceport that only costs $14,000 a year to lease. A Liberal insider made millions from this deal. I want the minister to explain why taxpayers are paying for this.”
Official Hansard

Mr. Speaker, the Minister of Defence signed a $200‑million contract for access to a spaceport that the company itself leases for just $14,000 a year. That is $20 million a year for a decade. Worse, the contract is backdated by a full year when no lease was being negotiated and while the company’s own auditor warned it may be bankrupt. After the deal was signed, the company’s stock surged and a well-connected Liberal insider cashed out for millions. Will the minister explain how this is not another multi-million-dollar boondoggle rewarding friends while taxpayers carry all the risk?

Greg McLean, Calgary Centre

Conservative
“The minister gave 20 million dollars to a failing company whose leaders made quick profits from it. Liberal insiders met with officials many times before this happened. I want to know who will take the blame, the insiders or the minister.”
Official Hansard

Mr. Speaker, let me explain “stupid” to the minister. He gifted $20 million, backdated to a company on the brink of bankruptcy. The company’s chairman, someone with a history of securities infractions, made millions on a quick pump-and-dump sale of shares. The lease that taxpayers are paying for is nowhere in the company’s previous regulatory filings. The company’s Liberal insiders met with officials 158 times. Someone is going to face the music here. Will it be the Liberal insiders who were stuffing money into their jeans or the minister who signed this God-awful document?

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