Mr. Speaker, any time we increase the potential liability in the tens of billions of dollars, that it is something that requires greater reflection and greater study.
As I said, in 2006, our liability for these private insurers was $200 billion. With this bill, our liability would be $300 billion.
If there are no defaults, then it is true that we are not paying anything out. However, should there be defaults there could be future liability. In fact, we have heard real concern from the Bank of Canada regarding the steep rise in housing prices, the lack of affordable housing in Canada and the incredible indebtedness that Canadians are faced with.
This needs greater examination, which is why we are proposing a delay.