Looks like Christmas came early for Canadian taxpayers: the news leaked that the much-criticized F-35 military jet purchase has been cancelled. The first order should be for Canada to use the money to buy back its once-pristine international reputation. Should $40B not suffice, Canadians might contemplate how the PM could spend the cash!

Rumours are swirling around Ottawa that the F-35 aircraft purchase is dead. Is it? No one knows just yet, but it would be a shock to see the Conservative government move away from its defense of this much maligned purchase.Either way, this fighter is proving very costly both in a dollar value and in lost political capital for the Conservatives.Certainly if the Conservatives cancel the F-35 program there will be considerable political blow back with the opposition parties shouting "I told you so."