Debates of June 11th, 2001

Stéphane Bergeron Verchères—Les Patriotes, QC

Mr. Speaker, Bloc Quebecois members are opposed to this motion and you should add the names of the hon. members for Lotbinière-L'Érable and Laurentides, who have joined us for this vote.

Yvon Godin Acadie—Bathurst, NB

Mr. Speaker, NDP members who are present vote no to this motion.

Rick Borotsik Brandon—Souris, MB

Mr. Speaker, members of the Progressive Conservative Party will vote yes to the motion.

(The House divided on the motion, which was agreed to on the following division:)

Loyola Hearn St. John's West, NL

Madam Speaker, the question for debate this evening concerns Canada Mortgage and Housing Corporation funding being made available for housing projects throughout the country.

I raised the question was in relation to Canada Mortgage and Housing Corporation being involved with multimillion dollar projects such as the one at 1 Post Road. Even though we know the extent of the involvement is only in relation to the mortgage insurance, it still sends a message to Canada that the government and the agencies that come under it are more concerned with housing for the rich and the well-to-do than they are for the people who really need housing.

When we see Canada Mortgage and Housing Corporation signs being flashed around in front of large multimillion dollar developments, it sends a message to the people who need such funding that government is not paying attention to them whether it be factual or not.

A couple of days ago we talked about the housing needs in this country. We talked about the need for housing for the homeless and the poor people. We talked about affordable housing. There are so many avenues to provide housing for those who need it if government would only sit down and come up with a plan to address the major problem.

I certainly think wrong messages are being sent. There is talk about a plan to address the housing issue but the conception on paper and bringing it into reality are two different things. We do not seem to really understand what we are doing and we do not seem to have the heart to do the job that needs to be done.

We could help the poor and those in need of affordable housing a lot more if we would spend some time concentrating on the major problem that we have in front of us and, instead of wasting time on foolishness, put some of our energies and efforts into addressing the real problems that face the country.

Paul Szabo Parliamentary Secretary to Minister of Public Works and Government Services

Madam Speaker, let me assure the member that the government does not subsidize luxury condominium developments. Mortgage insurance is not a subsidy. Mortgage insurance protects approved lenders against losses resulting from borrowers defaulting on their mortgages. The lender pays the premium that covers the cost of providing insurance coverage.

As Canada's national housing agency, Canada Mortgage and Housing Corporation provides access to mortgage financing for all Canadians regardless of where they live in Canada. It provides mortgage loan insurance on a wide range of housing types across Canada, including condominiums, single family housing, affordable rental apartments and retirement homes for seniors.

CMHC's mortgage loan insurance enables Canadians to buy a home with as little as 5% down payment. This insurance has provided one in three Canadians with an opportunity to own their own home and it has also contributed to the availability of rental housing and nursing and retirement home beds in our country.

CMHC is the only mortgage insurer in Canada to offer mortgage insurance for the construction of new rental housing and the purchase of existing units. Insurance is also available on loans for construction of multi-unit residential buildings, including rental apartments and condominiums. It also helps make affordable rental housing available at lower cost financing.

I want everyone to understand that CMHC operates its mortgage insurance on a commercial basis at no cost to the Canadian taxpayer. As members can see, CMHC's mortgage loan insurance helps to ensure that low cost financing is available for housing purchases all across Canada.