Investing.com - Financial Markets Worldwide
Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UPDATE 1-Canada Liberal leader Trudeau says would scrap F-35 program

Published 2015-09-20, 05:53 p/m
© Reuters. UPDATE 1-Canada Liberal leader Trudeau says would scrap F-35 program
LMT
-

(Adds comment from Conservative party)
TORONTO, Sept 20 (Reuters) - Canadian Liberal leader Justin
Trudeau said on Sunday his party would scrap a program to buy
advanced F-35 jets from Lockheed Martin Corp (NYSE:LMT) LMT.N if it wins
power in the Oct. 19 federal election.
The party said in a statement it would launch an open and
transparent competition to replace Canada's aging CF-18 fighter
jets. It said a Liberal government would not purchase the F-35
stealth fighter-bomber.
"Our (military) commitments will, among other things, ensure
that the Royal Canadian Navy is able to operate as a blue water
fleet well into the future," Trudeau said in a statement.
"By choosing to replace the existing CF-18s with a more
affordable aircraft than the F-35s, we will be able to guarantee
the delivery of current procurements for the navy."
Canada's ruling Conservatives announced a deal in 2010 to
buy 65 advanced F-35 jets, but abandoned the plan in 2012 after
a probe found officials had deliberately downplayed the costs
and risks of the deal.
The Conservative minister of veterans affairs, Erin O'Toole,
said the Liberal Party was turning cutting the military into a
political gimmick.
"By politicizing procurement projects and claiming to
streamline spending, Mr. Trudeau is actually showing that giving
our men and women in uniform the equipment they need is not a
priority," he said in a statement.
The right-leaning Conservatives, who have ruled the country
for nearly a decade, are in a tight three-way race with the
center-left Liberals and New Democratic Party.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.