Mr. Speaker, I withdraw it.
The hon. member fundamentally asks whether the MIF is in trouble. Is this an additional $50 billion liability to the federal government? The mortgage insurance premiums charged by CMHC are sufficient to meet the risk being assumed at no cost to the government.
The viability of CMHC's mortgage insurance fund is assessed annually by an independent actuary. An actuarial evaluation of the fund as of September 30, 1994 has confirmed its long term solvency.
The member is creating a worst case scenario that is not justified by the facts. Government members have explained again and again that CMHC charges premiums that cover the risk. The fund is sound and has helped thousands of Canadians.
The real liability is the sense of uncaring, the sense of indelicacy on the part of this member, not caring that people of moderate incomes have access to home ownership. That is the real liability. If past governments had taken that attitude, nobody would own a home today.