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Saturday, February 26, 2011

Cancelling F-35 will cost taxpayer $1 billion in benefits, royalties: MacKay

F-35 Lightning IIA battle of numbers has broken out over the Harper government's deal to buy the F-35 joint strike fighter jet.

Defence Minister Peter MacKay says the country stands to lose up to $1 billion if the purchase of the stealth jets is scrapped, largely because of lost economic benefits in research and development.

The loss estimate includes up to $100 million in royalties earmarked for the federal treasury because of Canadian research on the aircraft. Ottawa invested in the development phase and is in line for a cut of export sales to other countries.

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