Mr. Chair, I view the national housing strategy as an evergreen strategy. It started out as a $40-billion investment in housing, and it's grown to a $72-billion investment over the last five years based on the response to the changing housing needs of Canadians.
One of the most recent successes of the national housing strategy has been the rapid housing initiative. It started out as a $2.5-billion initiative during the pandemic to address the housing needs of those most in need. It was $2.5 billion, 100% grant and no loans. We recently launched round three of that initiative, which provides another $1.5 billion in grant funding to create another 4,500 units of housing. That's an example of the flexibility of the housing strategy and how it changes as the circumstances change.