The Canada Mortgage and Housing Corporation, the Business Development Bank of Canada and the Office of the Superintendent of Financial Institutions are very important institutions that help Canadians. However, there's a philosophy issue, there's a transparency issue, and there's the fact that the Crown corporations will have to switch over to “client” mode. Ultimately, who's the client of BDC or CMHC? It's the entrepreneur who works 1,000 hours a week and manages to spend his weeks paying millions of dollars in premiums. At some point, we'll have to get back to basics, talk to our entrepreneurs and try to agree on innovative solutions with them instead of always whipping out the compliance tables.
On September 26th, 2024. See this statement in context.