Thank you, Mr. Chair.
I will put my question to Professor Siemiatycki.
I want to come back to the somewhat troubling fact that base costs and public model transaction costs are about 16% less than those of the P3 model. But we just suddenly added a risk bonus that is 49% of the project, which is completely out of balance. This percentage stems from an obscure type of calculation, in a black box, and you are saying that there are not a lot of details about it.
I would like to quote someone, and I will then ask you what you think. It is in English:
...public sector comparators won't do you much good. I could make the public sector comparator as bad as I want to, in order to make the private sector look good.
It's Larry Blain, former president of Partnerships BC, March 26, 2003.
The P3 agencies supervise and analyze P3 projects, but their mandate is also to promote them. So they must always present them as winning formulas. Don't you think that's a problem?