Thank you, Mr. Chair.
Minister, Deputy Minister, I would like to thank you for being here today. I would also like to welcome you once again to the Standing Committee on Finance.
During our pre-budget consultations over the last few weeks, we heard from the Governor of the Bank of Canada, the CEO of the Canada Pension Plan Investment Board, and the Parliamentary Budget Officer, as well as yourself. It is clear that the OECD economies are sluggish and that it is difficult to stimulate growth.
Mr. Minister, under the circumstances, I am glad that you have decided to take such bold measures. You have opted to invest in infrastructure, both with our provincial and municipal partners and with this new tool to fund infrastructure projects, the Canadian Infrastructure Bank. I would like to commend you on this open-minded choice. The current situation is not a conventional one and such measures are necessary.
Could you tell us more about this decision to focus on infrastructure as a way to spur growth. Why do you choose infrastructure out of all the potential options? At this point in time, in Canada, why is this the best way to increase the rate of growth?