Thank you, Madam Chair, and thank you to the witnesses for joining us today.
Ms. Keesmaat, you've been clear that Canada's housing system isn't working for an entire generation of young people, who are now shut out of home ownership. As the committee studies Bill C-4, we're looking at measures like the GST relief on new homes and the creation of the Build Canada Homes agency, both of which aim to make it possible to build and buy the kinds of entry-level homes people need.
Given your experience in aligning policy, planning and market incentives, I'd like to explore how these changes could help with pathways for younger Canadians to enter the housing market. You've often said that our housing funding model has been broken for years, so how does removing the GST on new homes under $1 million and reducing it on builds up to $1.5 million help rebalance project economics so that builders can produce the entry-level, attainable homes that families actually need?