I don't believe so. Again, obviously, everything is tight financially, particularly in municipalities, as you've heard. Their sole real ability to generate revenue is through property taxes. I think we need to be mindful of what people can pay.
Again, the transfer of wealth from senior levels of government down to municipalities is a key component in financing a lot of these capital projects. I would, personally, be an advocate for proper tax reform. It gets people paying their fair share, which can then be transferred down to the communities and people who need it the most.
With regard to P3 models, we've seen and have experience with the fact that, again, it puts municipalities in particular in a precarious situation when they have reliance on these private corporations, if anything goes wrong. We've seen examples of that across the country. There was one in Edmonton where private waste collectors went bankrupt, and then trash wasn't picked up for a couple of weeks until the municipal government and the public works figured out a strategy to do that.
There is a bit of a loss of control when you're overly reliant on that private capital. Again, we haven't been seeing that private capital coming in and being invested at the rates that were promised or speculated by McKinsey and BlackRock at the beginning. Having a public focus on these projects is more efficient, more effective, more accountable and transparent, and ultimately bears better results for communities.
Again, there are billions and billions of dollars in infrastructure deficits. Like I said, it's over $52 billion in Ontario alone, and that's just one province. We really need to take a hard look at not just what the short-term gains might be but what the long-term issues and long-term losses might be. That's one of the pitfalls of the P3 model that we're aware of.