Mr. Speaker, I rise again to tell the Canadian audience that the speech made by the hon. member for North Vancouver was somewhat wrong. First, I wonder if he has read the bill and second, I do not know why he disagreed so strongly with the fact that this is a cost revenue neutral program.
As a matter of fact, the Government of Canada made money in 1994. The mortgage insurance fund gave $55 million back to the treasury. It is beyond my wildest imagination why members of the Reform Party would so strongly object to this bill.
My colleague from Bruce-Grey made an eloquent speech. It was obvious that he had read and understood the thrust of the bill which says essentially that $50 billion in liability will be added to the $100 billion that the Government of Canada already has to provide those Canadians with low incomes the backing to be able to own their own homes. This is extremely important because in many cases a 25 per cent requirement for a down payment is not there. They simply do not have the revenue. However, if they have 5 per cent or 10 per cent, the Government of Canada comes in and guarantees their loan with any bank in Canada.
I would like to ask my colleague from Bruce-Grey how important is this initiative for those Canadians who would not otherwise have the opportunity to buy their dream home?