Thank you very much, Mr. Chair.
Thanks to all of our witnesses.
I'd like to start with you, Mr. Cartwright. There have been a lot of claims made about the value of the P3 model. I note that the auditor general in Ontario evaluated 74 public-private partnerships and found that they cost the province $8 billion more than they would have if they'd been procured publicly. British Columbia's auditor general conducted a similar assessment of 16 P3 projects in B.C. and found that they cost nearly twice as much as if they'd been publicly procured.
Those numbers seem to stand out in stark contrast to the claims being made by some of the witnesses today. Is the value of the P3 model more an article of faith than an article of fact? How are we to understand the claims that are being made about this model?