Finance committee  Yes, that's exactly the situation we have with respect to the four ring-road projects in Alberta, because three of those went ahead as P3s and one went ahead as traditional procurement. If we had the full data on those projects... We have an in situ opportunity there to really come up with the kind of analysis that all of us are so keenly interested in.

Finance committee  I would simply add that what we're talking about here is a concept known as “land value capture”. Increasingly around the world, we see projects, particularly transit projects that tend to be subway projects, that lend themselves to capturing that land value at stations along the way.

Finance committee  I agree with Matti's comments. I don't think I can add anything further.

Finance committee  I'm happy to go first. The rationale that we would offer for the bank, and why we think we need it, is that it can be a vehicle that will bring projects to market that would not normally come to market. By that, I mean that they may be projects—Matti referred earlier to a couple of them—that have a risk attached to them that wouldn't normally attract the private sector.

Finance committee  Thank you. I see this arrangement as similar to the establishment of any crown corporation. If your question is who pays the day-to-day operating costs of the entity, I think that belongs with the government because it is a crown corporation. The key, with respect to the mandate, the types of projects, and the work that it would do, is clearly a function, as I mentioned earlier, of choosing the right chair of the board and the right CEO.

Finance committee  Matti is absolutely correct. The competitive process that is a hallmark of P3s in Canada has, in fact, resulted in all the global players converging on Canada, because this is where the market and the pipeline of projects has been. Increasingly, with any major project in Canada, the consortia that bid on these projects are international by definition; there are good Canadian components, but there are lots of international players.

Finance committee  You raise broadband, which I think is an excellent example. You may be aware that in the case of the Northwest Territories, fibre is being laid right up the Mackenzie Valley through a P3 project. That's a project that went to market as a public-private partnership, and the intent there, of course, is to connect all the remote communities.

Finance committee  If you're talking about financing, the intent is not for the government to be a financing partner. We're talking about projects where the private sector is taking on responsibility for some of that financing through private sources. That's critical to the project because they have skin in the game.

Finance committee  Good afternoon. Thank you, Mr. Chair, co-chairs, and committee members, for inviting me to appear here today. I'm pleased to speak before the committee on behalf of the council, which is a not-for-profit, non-partisan, member-based organization, with broad representation from across all levels of government in Canada and the private sector.

Transport committee  First and foremost, as you know, the announcement was made, but the terms and conditions around the way in which the fund will operate have yet to be finalized, so it's a little premature to comment on the substance of that. What I will say is that, again, experience in the public transit area in Canada has been very strong and very positive, so if you add an additional billion dollars a year into the mix, that can only make a significant contribution.

Transport committee  Well, in several ways. I mentioned earlier the economic impact assessment we had by an independent organization just last year, which demonstrated that these projects save governments $9.9 billion. That number is a reflection of the fact that projects are coming in on time and on budget.

Transport committee  No, that's a public-private partnership, the Toronto port authority, the government entity, in partnership with the private sector. Look at the Union Pearson Express. It will begin on June 6. For the first time in Toronto, you'll be able to get—

Transport committee  I'll let your comments go uncommented on, only because you've chosen to move on.

Transport committee  Thank you, Mr. Chair.

Transport committee  Sorry, was it me way over, or would it have been—