Finance committee  Our point is that currently there is no national transit strategy or urban transportation infrastructure strategy. We are calling for one. We also acknowledge that within a broader infrastructure envelope, much of which has benefited urban transportation infrastructure, there has been a very significant movement in that direction.

Finance committee  Well, we are certainly very encouraged by that commitment. We are going to be working with the FCM, which is a great partner of ours, to make sure that in that broader municipal equation Canada's largest urban centres and their unique infrastructure needs are addressed. So we're looking forward to those conversations.

Finance committee  Obviously we are looking, in the balance of all things, to see an increase and longer-term commitment to infrastructure. But there is a balance, and we recognize that. We don't want to suggest otherwise. Certainly I think some of the tax issues are related to productivity issues.

Finance committee  I think the gas tax mechanism is effective. It flows, in the case of Ontario, through the Association of Municipalities of Ontario, and is distributed with fewer strings attached on a project-by-project basis, which I think is something that is seen as very good and positive. So if that were the mechanism for increasing a commitment to urban infrastructure, to transit infrastructure in particular, I think that would be very positive.

Finance committee  I certainly think that bond instruments are things we support. But ultimately, they have to be paid back, so there has to be a strategy to pay for those as well. That's something we've certainly raised, particularly with the provincial government.

Finance committee  I think we're seeing that the quantum of investment over the last five years or so is historic. It actually is getting us in the right direction. It's only that it's not long-term.

Finance committee  I guess we're asking that the federal government continue its substantial investment and that it make permanent those.... Longevity is key. You can't build transit infrastructure on short-term projects. You need to have a long-term strategy.

Finance committee  Thank you. I apologize for reading quickly, but time is tight. My name is Richard Joy, and I'm vice-president of policy and government relations at the Toronto Board of Trade. Thank you for inviting us to appear this afternoon. Founded in 1845, the Toronto Board of Trade is Canada's largest chamber of commerce.