Madam Speaker, the provisions of the bill on access to home ownership are not that bad. We more or less agree with them. However, one of the biggest challenges for most households and families is to come up with a down payment. There is nothing about that in the bill.
Would my colleague be in favour of the idea of introducing a measure to provide an interest-free loan to allow first-time homebuyers to come up with a down payment? That would not cost the government very much. For example, given that the government would cover only the interest costs of the loan and it can borrow money at rates as low as 3.7%, it would cost $370 a year for a $10,000 loan. It is really not that expensive.
Does my colleague have any interest in that idea?