First of all, I thank all the witnesses. This is a bit of a challenging format, with so many different views and fields represented.
I have to begin with Mr. Gazzard and the issue of housing, because we're noting with concern the increased challenges in housing affordability, the real challenges for home ownership, and also the challenges for those who need supportive or subsidized housing.
In Toronto, the city is the largest landlord of housing stock, and it is in great need of investment. So I take your point about the ongoing sustainability of the existing affordable housing let alone the investing in new stock.
We've been arguing that investment in such things as housing is a job creator and is good for the economy. Could you comment on the importance of housing and the potential benefit—not just spending, but benefit—to our economy?