Mr. Speaker, my question concerns the insurance program. I understand that there are two programs: one is offered by CMHC and one is offered by a private organization.
The hon. member is adamant in telling us that there is no cost to the government. I am trying to understand why the government is involved.
I was talking the other day about the Small Business Loans Act, which again is money being channelled through bureaucrats at no cost to the government. I am trying to understand what benefits are being offered through this program if they are also being offered through the private sector.
If there is no cost to the government, why is the government involved in cycling the money through bureaucrats by charging people who buy houses to compensate the lenders who have mortgages that go into default? Why is the government even in the business? The private sector can do it just as well, just as efficiently, and under the rules there is no cost to the government. Why is the government even involved if there is no cost to the government and the private sector can do it better?