Public Accounts committee  I think it goes back to the initial premise, which is that for PPP Canada to enter into agreements with its provincial, territorial, and municipal partners for projects, it requires cash on hand. If the government were to limit the appropriations, PPP Canada would not be able to

Public Accounts committee  It was a long question to have a brief response to. The last part had to do with the “buy America” policy and whether there's a “buy Canadian” policy in PPP Canada. Is that the question? Greg.

Public Accounts committee  I think there were two points that I heard you raise. The first point is whether PPP Canada requires cash on hand, given that it is making undertakings for specific infrastructure projects. As a non-agent crown, the commitments that it makes are not binding on the Government of

Public Accounts committee  No, what I'm saying is that PPP Canada is a non-agent crown corporation for the purpose of the infrastructure projects and the management of the P3 fund.

Public Accounts committee  The purpose of PPP Canada is not to generate a profit for the Government of Canada. It is to enter into P3 arrangements for infrastructure projects, which in themselves have a social good.

Public Accounts committee  As I mentioned in my opening statement, the way we would approach the question of the cost of PPP Canada really starts from how the Government of Canada provides funds for particular programs. The Government of Canada sources the funds it provides both from its general revenues a

Public Accounts committee  The financing means, as I say, would be invariable. The financing means are general government revenues and general borrowings. It was our view that the appropriate way of calculating a hypothetical borrowing cost is to use treasury bills, given the nature of PPP Canada's drawdo

Public Accounts committee  Sorry, I'm not sure exactly. The amounts of...?

Public Accounts committee  Well, the amounts that would be drawn down by PPP Canada are identified in their corporate plan. It's a corporate plan that was approved by Treasury Board according to the projects that the corporation saw it would have in a coming year. They make a request on that basis.

Public Accounts committee  Maybe I can start and Greg can certainly add any details. I think the main reason the model was chosen—and by the model, I'm referring to the fact that PPP Canada is a non-agent crown corporation—is that PPP Canada is undertaking infrastructure projects with other partners. It d

Public Accounts committee  Thank you, Mr. Chair. Thank you for inviting us to speak to chapter 10 of the 2013 Spring Report of the Auditor General of Canada. My name is Richard Botham. I am Acting Assistant Deputy Minister, Economic Development and Corporate Finance at the Department of Finance. I will