Thank you very much, Mr. Chair.
Thank you to both of our witnesses for being here this morning.
Professor Loxley, I have a question for you to begin. You mentioned at the end of your presentation that we should look at ways to strengthen the ability of the public sector to finance infrastructure. I just wanted to ask, how do we do that? In this current era of government deficits and the need for deficit reduction at all levels of government, and our hearing from municipalities that there is concern about an infrastructure gap, how do we strengthen the ability of the public sector to finance infrastructure?
You're an economics professor. You know that money doesn't grow on trees.