Mr. Speaker, the Liberal platform promised an investment bank or an infrastructure bank.
My colleague can read about that on page 15 of the Liberal platform:
[The] Infrastructure Bank [will] provide low-cost financing for new infrastructure projects. [It] will provide loan guarantees and small capital contributions to provinces and municipalities to ensure that the projects are built.
Reading that, my understanding is that the government wants to set up an infrastructure bank to prioritize various pieces of infrastructure across the country so it can decide to invest more. That is what the Liberals promised: $120 billion over 10 years. Now we are looking at a little bit of investment, $35 billion, $15 billion of which was previously committed, to attract $365 billion in private capital in a bank that will therefore be largely controlled by private capital, which will be looking for high returns.
I am not necessarily in favour of privatization. Far from it. If the Liberals had been honest, they would have explained the plan to Canadians from the get-go, but that did not happen.