Thank you so much for the question.
In terms of what works and what we've learned, we know that community and co-op housing works very well in Canada, with a well-established 50-plus year track record of creating permanently affordable housing that puts community first and members first. We know that works very well, especially at this time when renting or owning in the marketplace is very, very difficult. Co-op housing is affordable—more affordable than market housing. It provides security of tenure and security of ownership, and it provides for a very strong community.
What's needed to work at a programmatic level is to deliver new co-op housing in Canada at scale. The supply programs of the seventies and eighties created a very disaggregated asset base, so a lot of very small housing co-operatives all across the country. That was very good, but in today's very difficult housing market, we need to create affordable co-operative housing at scale.
One of the features in our budget proposal is that the co-op housing sector itself delivers this program at scale, to realize efficiencies and economies of scale and ensure we are committing seed funding and working capital to projects much faster. There are projects stuck on desks all across the country, representing thousands of units, because they can't navigate the bureaucracy of current programs. Having a sector-delivered program is much closer to the ground and is going to be much more efficient and get outcomes even faster.