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Market
What will be the outcome of the Conservative party's criticism of the Telesat loan by December 31, 2024?
3
Resolution / Starting Odds
Reconsideration of the loan • 25%
No change • 25%
Increased scrutiny or investigation • 25%
Other • 25%
Official statements, government decisions, or credible news sources
Story
Canada Rejects Elon Musk's Offer, Backs $2 Billion Loan for Telesat
Sep 21, 2024, 12:48 PM
Canada's Minister of Industry, François-Philippe Champagne, has dismissed Elon Musk's offer to provide Canadians with cheaper internet access through Starlink, calling it 'nonsense.' Musk claimed he could deliver internet services at less than half the cost of the federal government's $2.14 billion deal with Telesat. The decision has sparked criticism from Conservatives, who argue that the government's plan risks national security and have called for Musk's involvement. The Trudeau administration has opted to support Telesat's satellite communications technology with a $2 billion loan instead of partnering with Musk's already operational Starlink. Innovation Minister Champagne emphasized the national security risks associated with the Conservatives' push for Musk's involvement. The loan is directed towards the Ottawa-based satellite operator Telesat.
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