Thank you, Mr. Chair.
Thank you to our witnesses today.
This is really quite interesting. As you mentioned about the foundations, Mr. Bird, Salmon Arm has had some great success with the foundation. It's quite a surprise to me how quickly the fund built up just because there are people who have contributed who just wanted to leave something to the community. It's been a great asset in our community.
I want to ask a little bit about the social impact bonds and how they differ from regular bonds. I know the words “social impact” and what that means, but is there going to be a need for a framework around that, guidelines that protect the investor and ensure that it's properly used for the purpose that the bonds are there for, and that it's managed? Do you see any regulatory framework that has to be produced by the provincial or federal governments?
A question I asked the other day at our meeting was who should champion this. This is a huge country and we have some challenges—regional diversity, demographics, and all those kinds of things. I believe the federal government can be a partner, but who should actually champion this initiative?
I ask all three of our guests to give us some comments on that, please.