The hon. member says it is not a subsidy. It is breaking even, but where does the organization get the resources to do what it is claiming? It is making it possible for some people to have houses who otherwise would not have them. By definition that is a subsidy. Where is the money coming from?
To say that unless we subsidize and encourage the housing industry the economy will not boom is what we call vulgar Keynesianism. Vulgar Keynesianism means that unless we run a deficit and subsidize a certain activity, the economy left on its own will never produce a full employment equilibrium. That idea was current and fashionable in the 1960s. Today it is totally defunct. Most members opposite seem to have gone to university and have studied it in the 1960s, in the dark ages of Keynesian economics.
We know today that if we subsidize some industries by raising-