Mark Carney wants to do away with Elon Musk's Starlink and use Canada's Telesat Lightspeed, which is years away.
Telesat has been getting government contracts and $ for years:
* 2019: $85M, grant (non-repayable)
* 2020: $600M, capacity deal.
* 2021: $1.44B, loan + equity (later replaced by the 2024 loan. What happened to our equity?
* 2024: $2.14B, loan (repayable with interest, plus warrants for 10% of Telesat LEO)
2025: $2.92M, defence engineering contract
2026: $2.3B, up to $2.7B with options, military services contract
Provincial
2021: Quebec $400M, loan
2021: Ontario $109M, commitment
So around $5.6B in support just in the last few years.