Thank you, Mr. Chair.
Professor Lee, there's one thing, or a number of things, actually, I want to ask you about. Speaking of 40 years ago, I remember the government program called MURB, the multi-unit residential buildings program. It allowed average investors who would take the risk of investing in the development of multi-unit residential buildings to take the depreciation of capital cost allowance and soft-cost expenses in the year of construction against their personal or professional income. My recollection is that the program was highly successful at getting hundreds of thousands of apartments built across the country.
Now, it was nice to see the Liberal government actually providing a tax concession to business people, finally. If we did that, they'd be accusing us of providing tax breaks to our wealthy business friends. I won't say that about them, but that's what they would say.
In any event, I'm curious to know what you think about an idea like that. What other types of measures or tools could be used within the Income Tax Act to incentivize the construction of residences?