Madam Speaker, I would like to thank the member for Sherbrooke for the work he does on the finance committee, a task I know very well. We spend quite a bit of time on it.
I would like to ask a more practical question about Bill C-97. In the bill, the government has offered a shared equity program through the Canada Mortgage and Housing Corporation. We had a similar program in British Columbia, and there was not very much pickup on it.
I raise that for two reasons. The government has not given very much information, but what we do know is that it intends to make it operational by September 20. With our fixed election dates, it seems scandalous to offer a new program just before an election.
However, more important to the people who will be relying on it, one of the reasons why the shared equity program in British Columbia was not picked up was that mortgage brokers said they were not able to get answers as to who could apply and under what criteria one could get the proper approvals to be able to purchase a house. As we know, it can be very difficult for someone who is not able to make a proper offer to buy a home in a timely manner. If they do not know within days, chances are the deal will go to someone else.
Does the member feel that this is a proper program? Does he feel that the practical realities of implementing such a program on such a short time basis may end up not achieving its intended purposes?