Mr. Speaker, I would like to thank my colleague for his very relevant question that clearly reveals the government’s intention. There is no reason to create a bank. Everything is already in place right now.
A mayor, or a municipal council, has never needed to go looking for financing, because we all have access to funding through municipal bonds, at an interest rate of less than 2%, and the federal government and the provinces are also able to do this.
There is therefore no reason to create a new structure, other than to make people believe it is a good thing or to enable officials in Toronto to get on the gravy train and help foreign investors earn even more money. There is no other reason.