Thank you for the thoughtful question.
I would just say I think we agree on the objectives and the need.
I would point to the really aggressive approach we've taken in housing since the beginning of this fall session, such as by completely eliminating the GST on construction of all purpose-built rental housing. That was a very big step. We did that in September.
Adding $20 billion to the Canada mortgage bonds was also a really big step. I am already hearing from builders across the country that it will lead to more purpose-built rental housing, including affordable rental housing, being built.
With due respect—and I don't mean that in a snarky way; I mean that in a really serious way—adding $15 billion to the apartment construction fund is making a difference right now. That fund initially had $25 billion, and $17 billion has already been committed, so what we did in the fall economic statement was add another $15 billion, so it's $40 billion in total.
Putting that money in there is having an impact right now, because if people are beginning a project—proposing it—at the end of 2023 or the beginning of 2024, it takes them a while to have the plans, to have the permitting. Now they know there is money in that fund that they can apply for and build their plans around. That is money that's going to make a difference today.
That's actually true, really true.