Thank you, Mr. Chair.
Welcome to all of our witnesses. It's been very interesting hearing from you so far.
My first questions are for Mr. Sanger.
Mr. Sanger, in 2017, you studied the Canada Infrastructure Bank. You found that the private financing model that the bank was pursuing could end up costing the Canadian public twice as much as it might otherwise, if other models were pursued.
I'm wondering if you could speak a bit to your methodology and what is a pretty shocking conclusion, and why the public could end up paying so much more for these infrastructure projects.