moved for leave to introduce Bill C-285, An Act to amend the Canada Mortgage and Housing Corporation Act (profits distributed to provinces).
Mr. Speaker, for the 39th Parliament, I have chosen to introduce a bill that was introduced by the Bloc Québécois last year requiring the Canada Mortgage and Housing Corporation to distribute a portion of any surplus from its reserve fund for the construction of social housing.
I would like to remind the House that the CMHC is not a private business—it is a crown corporation. It is utterly immoral for the CMHC to accumulate $4 billion in profits when there is a lack of social and affordable housing.
I invite the Conservative Party to vote for this bill. We must do more than what was promised in the latest budget.
(Motions deemed adopted, bill read the first time and printed)