I'm just looking at a study done by the C.D. Howe Institute, an organization formerly headed by your Liberal finance minister, Bill Morneau. It shows that the increased cost of housing in Toronto due to municipal regulation and red tape is $168,000. In other words, red tape that you helped impose in the city of Toronto increases the cost of each single house by $168,000.
When I found out, Mr. Vaughan, that you were here to testify about housing, I assumed you were coming to apologize to all the people who lost out on the opportunity to live near where the jobs and the opportunities are because of all the red tape you imposed in increasing the cost of housing.
Now, on the issue at hand—