Mr. Speaker, I welcome the opportunity to again clarify that in 2006 the limit of taxpayers' liability was $200 billion. It was subsequently increased to $250 billion. The proposal today is to take that liability to $300 billion, which is a huge amount of dollars that Canadians would have to back up.
Secondly, when asked which countries around the world have public money backing private mortgage insurers, there was no country that was named that had a system like that. There are private insurers that pay their own premiums and self-insure, but not one country was named where the government backstops the risk of private insurers operating in the housing mortgage market.