I call this meeting to order.

Welcome to meeting number 108 of the House of Commons Standing Committee on Finance.

Just for the benefit of witnesses, we are an hour delayed today due to the statements in the House regarding the situation in Israel, Gaza and the West Bank.

Pursuant to Standing Order 108(2) and the motion adopted by the committee on Thursday, September 21, 2023, the committee is resuming its study on policy decisions and market forces that have led to increases in the cost of buying or renting a home in Canada.

Pursuant to the Standing Orders, today's meeting is taking place in a hybrid format. Members are attending in person in the room and remotely by using the Zoom application.

I'd like to make a few comments for the benefit of the witnesses and members. Please wait until I recognize you by name before speaking. For those participating by video conference, click on the microphone icon to activate your mike. Please mute yourself when you are not speaking.

For interpretation, those on Zoom have the choice, at the bottom of your screen, of either floor, English or French. Those in the room can use the earpiece and select the desired channel.

Although this room is equipped with a powerful audio system, feedback events can occur. These can be extremely harmful to interpreters and cause serious injuries. The most common cause of sound feedback is an earpiece worn too close to a microphone. We therefore ask all participants to exercise a high degree of caution when handling the earpieces, especially when your microphone or your neighbour's microphone is turned on. In order to prevent incidents and safeguard the hearing health of the interpreters, I invite participants to ensure that they speak into the microphone into which their headset is plugged and to avoid manipulating the earbuds by placing them on the table, away from the microphone, when they are not in use.

I would remind you that all comments should be addressed through the chair. For members in the room, if you wish to speak, please raise your hand. For members on Zoom, please use the “raise hand” function. The clerk and I will manage the speaking order as best we can. We appreciate your patience and understanding in this regard.

In accordance with the committee's routine motion concerning connection tests for witnesses, I'm informed by the committee clerk that all witnesses have completed the required connection tests in advance of the meeting and everything is working fine.

I would now like to welcome our witnesses. We have six different witness groups with us today.

We're starting with the Canadian Home Builders' Association. Joining us is the chief executive officer, Mr. Kevin Lee.

From the City of London, we have Mayor Josh Morgan. Welcome, Your Worship.

From the Fédération québécoise des municipalités, we have Claire Bolduc, reeve of the regional county municipality of Témiscamingue, and Maryse Drolet, political adviser for the Fédération québécoise des municipalités.

From HousingNowTO, we have Mark Richardson, technical lead.

From the Ontario Home Builders' Association, we have Sue Wastell, a builder and developer who is joining us by video conference.

From the University of Winnipeg, we have Dr. Shauna MacKinnon, professor and department chair of urban and inner-city studies. She is also a member of the Manitoba Right to Housing Coalition. She is also joining us by video conference.

Witnesses, you have up to five minutes to make an opening statement before we get to questions from members.

We'll start with the Canadian Home Builders' Association and Mr. Kevin Lee, please.

Peter Fonseca

$516,830.00