OTTAWA — A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
The fight involves internet connectivity in remote regions as Canada tries to live up to its promise to connect every Canadian household to high-speed internet by 2030.
"Less than half that amount," Musk responded, prompting Barrett to conclude:"That sounds like a common-sense solution for Canada to me."Telesat will pay the government nine per cent interest. The Quebec government is also loaning $400 million. In exchange, Telesat will give up around a 12 per cent equity stake in the company to the two governments.
The Liberal government has a years-long initiative to ensure all Canadian households are connected to high-speed internet, with the goal of getting to 98 per cent in 2026 and 100 per cent by 2030. Starlink's coverage map shows service as available in Canada, though its parent company didn't answer questions about service availability in the country's most remote areas.
The Conservatives also tried to connect the contract to former Bank of Canada governor Mark Carney, who was appointed as an economic adviser to the Liberals on Sept. 9, four days before the Telesat loan was announced. Musk has become an increasingly controversial and political figure in recent years, particularly since he bought the social media platform Twitter, which he renamed X. He has used his large reach to share false information.
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