Thank you for the question.
It's important to understand that funds are already available. It is possible to continue to use existing funds to support housing construction. According to the Fall Economic Statement, once these funds have been used, it will be possible to continue making investments with the additional funds that have been announced.
It's also very important to recognize that funds will be available very soon. For example, there will be funds for the development of housing co-operatives in early 2024.
It's important also to see that the funding being put in place now is going to flow to buildings when expenses are incurred, so we can actually book expenditures very soon for projects that are going through the application process, knowing that the funding will actually flow during the construction period. If you're building an apartment complex that will have 300 units, that's usually a multi-year project, so to the extent that we can say today that there is going to be money in place, we're going to be encouraging more builders who are filing building permits and advancing projects before construction starts, knowing that the money will be able to flow. Despite a later start date, we can actually book those expenditures sooner and continue to use money that's in the pipeline already.