Thank you, Madam Chair.
Gentlemen, thank you for being here this morning.
We are here to find solutions that will enable developers, residents and organizations to restore buildings. Everyone agrees: conserving buildings in Canada is a problem.
In your report, you mentioned that you have not gone so far as to consider whether the costs of the tax credit would be offset by tax revenue back to the government.
I think we have to look at the big picture. You say that the annual cost of the credit would range from $55 million to $67 million in the first five years of the program, but you still have to consider the benefits of the tax credit, which will generate additional money.
If you take into account only the outflow of money, I understand your analysis, but you have to look at the tax credit as a whole and consider the positive effect it will have not only on the communities and society, but also on the economy. That's why you are here this morning.
I'm asking the question, but I very much doubt that you will be able to answer this morning. Are you able to show us the final economic impact of the program?
The United States says the final impact will be around $1.20 or $1.25. That's a surplus for the government. Of course, if we look at the program at its source only, it costs $55 million to $67 million, but beyond that, could you give us the tools to make it possible to say that this program is viable and positive?