Thank you, Mr. Chair.
Minister, you said earlier today that you disagree with the Economist Intelligence Unit and you disagree with Bank of Canada Governor Mark Carney. Both the Economist Intelligence Unit and Governor Carney have spoken of the Canadian housing bubble and the risk that overinflated housing prices represent to Canada.
You also aborted the work being done within the Department of Finance, the Bank of Canada, OSFI, and CDIC to form a financial stability committee. As you said earlier today, you don't believe there's a housing bubble in Canada.
How can Canadians trust your judgment now when you say there's no housing bubble? In 2006, you were the minister who brought in zero down, 40-year mortgages, which led to record high Canadian household debt levels.