Mr. Speaker, in budget 2006, the finance minister introduced to Canada U.S.-style 40-year mortgages with no downpayment. This failed policy helped lead to record Canadian consumer debt levels. Now the minister says he wants to privatize CMHC.
With record household debt and weakening housing prices, why would the Conservatives privatize the CMHC and give up a key federal lever in the housing market? Why do the Conservatives seem so intent on following failed U.S. economic policy?