Members, I call this meeting to order.
Welcome to meeting number 122 of the House of Commons Standing Committee on Finance. Pursuant to Standing Order 108(2) and the motion adopted by the committee on Thursday, September 21, 2023, the committee is resuming its study of policy decisions and market forces that have led to increases in the cost of buying or renting a home in Canada.
Today's meeting is taking place in a hybrid format, pursuant to the Standing Orders. Members are attending in person in the room and remotely by using the Zoom application.
I'd like to make a few comments for the benefit of the witnesses and members. Please wait until I recognize you by name before speaking. For those participating by video conference, click on the microphone icon to activate your mic and please mute yourself when you are not speaking.
There is interpretation. For those on Zoom, you have the choice, at the bottom of your screen, of either floor, English or French. For those in the room, you can use the earpiece and select the desired channel.
Although this room is equipped with a powerful audio system, feedback events can occur. These can be extremely harmful to our interpreters and can cause serious injuries. The most common cause of sound feedback is an earpiece worn too close to the microphone. We therefore ask all participants to exercise a high degree of caution when handling the earpieces, especially when their microphone or their neighbour's microphone is turned on. In order to prevent incidents and safeguard the hearing health of the interpreters, I invite participants to ensure that they speak into the microphone that their headset is plugged into and to avoid manipulating the earbuds by placing them on the table away from the microphone when they are not in use.
I remind everyone that all comments should be addressed through the chair.
For members in the room, if you wish to speak, please raise your hand. For members on Zoom, please use the “raise hand” function. The clerk and I will manage the speaking order as well as we can. We appreciate your patience and understanding in this regard.
I would now like to welcome the witnesses with us today on this study of policy decisions and market forces that have led to increases in the cost of buying or renting a home in Canada.
We have with us the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance.
Welcome, Minister. It's good to have you here.
Along with the minister, we have the deputy minister for the Department of Finance, and that is Mr. Chris Forbes.
Welcome, Deputy.
We will now have time for opening remarks. Then we will get into the members' questions.