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Georgetown remembers - Black Friday

February 20, 2006.

Halton - Georgetown: On this day in 1959, Georgetown felt the repercussions of Black Friday.

Synopsis,

"Canceling the Arrow made good economic sense, but the effects were felt throughout Canada. Most of the scientists and engineers involved in the project moved to the US, and Canadians bemoaned the devastation of the Canadian aircraft industry. Negative public reaction marked the beginning of the decline of Diefenbaker's popularity, and led to his eventual defeat."

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" Mr. Speaker, with the leave of the House I should like to make a somewhat lengthy statement on the subject of one facet of the national defense of Canada....The government has carefully examined and reexamined the probable need for the Arrow aircraft and Iroquois engine known as the CF105......The conclusion arrived at is that the development of the aircraft and Iroquois engine should be terminated now."

And so with these words, then Conservative Party Prime Minister John Diefenbaker cancelled the Avro Arrow, and Iroquois engine projects. This action threw 50,000 people out of work and destroyed a nations dream. Over 600 Georgetown area people became unemployed virtually overnight.

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Please take a moment and reflect on what could have been.

Town Hall comments ...

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Email: editor@thehaltonherald.ca

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