Madam Speaker, I agree. We need more affordable housing in this country.
However, no matter how much money the government puts into affordable housing programs in this country, it is not going to address the underlying problem, which is our skyrocketing levels of household indebtedness and skyrocketing housing prices.
Governors of the Bank of Canada only have one or two tools at their disposal to deal with monetary policy: the overnight rate and quantitative easing. The government has an immense number of tools available at its disposable. It has dozens and dozens of tools through finance regulation, CMHC and OSFI to get a handle on this problem, tools it is not using to deal with the underlying problem.