I can still continue with my question. In most cases when a municipality's debt level is too high, it is impossible to pass a loan by-law without the agreement of the Ministry of Municipal Affairs, without the province, and the municipality will not get that agreement to become involved in the infrastructure program, even for 15%, when its debt level is too high. Currently, there is a serious problem at municipal level, even in large cities. I could mention Toronto and Montreal, which probably have the highest level of debt of all municipalities and which will find it extremely difficult to find funds to invest in the infrastructure program. You are now telling us that no agreement is in place, no negotiations are underway, nothing that gives us any reason to feel that cities like Montreal and Toronto, or even small municipalities, could make any investment. Especially since we are in an extremely serious credit crisis that makes it very difficult for towns to borrow.
On February 10th, 2009. See this statement in context.