Thank you, Madam Chair.
First, I'd like to thank the witnesses for being here today.
Mr. Halucha, the housing issue is obviously a major concern for many Quebeckers and Canadians. In 2024, the Canada Mortgage and Housing Corporation funded projects totalling $1.3 billion, but $1.4 billion remained unspent. In 2025, once again, the CMHC was authorized to spend $2.1 billion, but it spent only $1.3 billion. We can therefore say that there is a shortfall of approximately $2 billion over two years.
How do you explain this situation?