I do, too. Thank you.
Infrastructure has been studied, as you can guess, literally going back to Adam Smith.
I would bring up something in response to your question. I testified before this committee back in 2008-09, and I looked up the data on infrastructure spending. I think the data I'm quoting to you today is still current—I could be wrong, so please double-check me. Infrastructure in 2010, 2011 and 2012, based on all the studies that were done, had a higher multiplier than any other form of government intervention. This was confirmed by U.S. studies and Canadian studies. The number was 1.6 at the time. I remember it, and in fact Minister Flaherty had it in the appendix of one of his budgets, 2011-12.
In other words, every $1 billion you spend on infrastructure generates $1.6 billion of economic activity, whereas giving cheques to people can be used to pay down debt, or they can put it in a bank account. They might not spend it, whereas with infrastructure you know it will be spent because the contractor who is building the bridge or the road or the pipeline will not be paid until they build the bridge or the road or the pipeline, so you know it's going to be invested in the economy.
Second, to your point, infrastructure has been studied, and the reason it's so important for economic productivity and growth is that anything that contracts...or increases the efficiency of the movement of goods or services across the country, whether digitally or physically, enhances the growth and the productivity of the economy.
I think that's why the multiplier is larger and has a net-positive impact on the economy—whether it's railroads, airports, airlines or digital infrastructure broadband.