Transport committee  Thank you. There are many points there to untangle, and—

Transport committee  Speaking as an official and also as the former official in charge of banking, and banking at Finance Canada, there is a reason I am leading this project. This is a bank, a merchant bank, that is designed to do something very specific in credit and equity, underwriting sophisticat

Transport committee  They are involved. They are involved to the extent to which they're small equity components in a P3 deal. I'm actually a big supporter of P3s. Quite frankly, whether it's in B.C. or Ontario, in our consultations they saw immediately how we were filling a niche that they did not h

Transport committee  Any decision around a user fee model, whether it is for the funding of an asset or for demand management, rests with the local authorities, whoever is the steward of that asset. Many of them are already telling us they are considering or have employed various forms of user fees.

Transport committee  It would be a level of government, with their own processes to determine whether they want to bring that asset forward and what revenue model they would like attached to that asset.

Transport committee  That's correct. Ultimately, whoever is the other government party attached to an infrastructure bank project is the ultimate steward and the ultimate accountable agent to their respective citizens about the nature of that project. You can see the Government of Canada, through th

Transport committee  I think a way to illustrate this is that we are collectively trying to find those projects that are not quite economically viable on their own but could be close if there's a missing piece in the marketplace for some entity to come in as a bank-type function or a merchant or inve

Transport committee  I would say that applies to any community in Canada.

Transport committee  You can have big projects in small communities, and you can have big projects in big communities, and likewise. Clearly, it would be activity that would not have otherwise taken place in the absence of this vehicle.

Transport committee  In the first instance, the KPMG report, which was commissioned last spring, provided a lot of background without knowing where the government was on any of its policy determinations. Of course, there were many internal consultations about a whole range of what the art of the poss

Transport committee  I would concur with that tri-focus of accrued investments. Let me in my own words say that, for whatever part of a project, particularly a public project that would not have otherwise been built or would have been built with less public money, the amount of equity financing may a

Transport committee  I would say that's a subjective question. However, the analysis that we have done suggests there is a meaningful deficit between the needs and expectations and our ability to finance in this country at all three levels of government. Unlike some other countries that are unitary,

Transport committee  That is the intent.

Transport committee  The mainstream option for the bank is to interface with projects sponsored by the municipal, territorial, and provincial governments. There is an avenue where the bank would be the interface for what we call unsolicited proposals, and I think one of my colleagues referred to that

Transport committee  It would have a public sponsor somewhere in the mix to meet the public interest test.