Mr. Speaker, I thank my colleague across the way for his presentation on Bill C-29, budget implementation act, 2016, no. 2.
I want to reference something that was mentioned by earlier speakers about the infrastructure bank that is part of the commitment of the budget, $15 billion, plus another $20 billion of debt the Liberals want to fund this bank, for a total of about $35 billion.
Today the Prime Minister is in Toronto meeting with lots of institutional investors, and he is trying to attract them to invest $180 billion in Canada's crumbling infrastructure.
I do not argue whether that money is needed. We do have lots of infrastructure that needs upgrading, but when we attract private money to the tune of $180 billion, those investors will want a premium of 7% to 8% on that money.
Currently our Canada savings bond rate is at 1%, 20-year municipal debentures can be had for 3%. Even if we increased our Canada savings bond rates up to 3%, the difference between 3% and what those institutional investors will want of 7% to 8% is 4% or 5% on $180 billion. That is between $7 billion and $9 billion that will cost Canadians extra every single year to fund these infrastructure projects, and that is not included in your budget.
What are Canadians supposed to think of that extra $7 billion or $9 billion price tag that you are putting on to this?