This is an important question. It is often a source of confusion.
It is crystal clear: We have no mandate whatsoever to privatize public assets. We work with the owners of those assets to deliver, and we're actually....
The goal of engaging private capital is to do two things. It's to grow the pie of money we have to pay for these projects—because we all have to admit that there's a limit to what we can do from purely tax-based, traditional grant funding. We're trying to grow that pie. Number two, we're trying to grow that pie in ways that create a good alignment of incentives, so that if you have a private sector partner, they have every incentive in the world to build it well and run it well over the long term.
Of course, I've had the privilege of working with the member. I was previously at Infrastructure Ontario. The Ontario program is a good example of this. Hospitals, colleges and universities, courts and a whole bunch of public infrastructure has been built using some form of P3 and without any privatization of any of those assets or the services delivery.
Now, as the CIB—to step back—we're very agnostic on the type of project. We can work in the context of the Ontario-style P3. We can work with other public sector owners. We work with municipalities directly. Let alone to privatize, we also have no edict or mandate that it must be a P3 or not. That's not even in our consideration set.
For us, it's all about revenue-generating assets that draw in private capital to take on some of the risk in this and to provide some of the upfront capital and get more built that way.