Thank you, Mr. Chair.
Mr. Joy, I think you're speaking from my riding, and John Loxley I've known since, I believe, 1975. Good to see you, John.
I'd like to ask a question about valuing the transfer of risk. John mentioned he couldn't get the information justifying those dollars. We had a witness from the University of Toronto who studied, I think, over 30 projects in Ontario. He said the average risk premium was 49% of the cost, which seemed very high, but he was unable to get information to justify that cost.
I have a double-barrelled question. One, since the public is paying for these things, shouldn't we be able to get the detailed methodology and justification for these costs? It seems to be very lacking in transparency. Two, the Mayor of Winnipeg was totally convinced there was clear and sound analysis to justify these risk premiums from accounting firms and other trustworthy entities. I guess I'm asking you whether you trust these people who produce these estimates—and don't tell us the methodology—or whether you think there's something inherently untrustworthy about it?
Perhaps we could start with John Loxley.