Thank you, Mr. Chair.
Thank you to all three of our witnesses. I think this testimony is very pertinent to the study we've undertaken.
It feels like the choice between high-speed rail and high-frequency rail has been fairly well canvassed so far. I'm going to try to focus on this question of public versus private procurement models and how they could affect the outcomes of the project.
I'll start with Mr. Katz-Rosene. I believe it was you who mentioned the importance of getting the objectives of the project established near the beginning. Of course, with this P3 model the government has gone with, one of the objectives in the mix is delivering profits for private investors.
When we look at public models and private models of rail development around the world, what happens when private profit motives come into conflict with public objectives around transportation and the sorts of things we've been talking about at this meeting? What's the risk if those objectives come into conflict?