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Transport committee  Yes, I do see that from time to time. What I was able to observe may not have been on the same scale as this activity, but I think McKinsey had the capacity to volunteer for this committee. At least that's what I observed. Dominic Barton, the head of McKinsey at the time, was comfortable offering the time of some of his consultants to support our work.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  Unfortunately, I don't know. I can't give you an idea, because I don't have any myself.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  One idea that came out of the growth council was the idea of the creation of a financial institution that would have the ability to use its capital to enhance the level of investment in infrastructure overall, whether that was working with a municipality, with a steel company or with bus companies, etc.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  My answer is basically no. Indeed, I am a member of Canada's Economic Growth Advisory Council. This council makes proposals and recommendations to the federal government. The creation of a financial institution focused on infrastructure issues was one of our recommendations, but we did not play a role in the establishment of the bank.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  Yes, of course.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  It is important to understand the role of the people at McKinsey & Company. They essentially act as a secretariat, on a volunteer basis. The concepts and suggestions came from the board members. As you know, an advisory board needs a secretariat, and McKinsey played that role. So they have been very involved in our reports and our deliberations.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  No, but wait a second. You don't have the chronology right. When I accepted to chair the board of the Infrastructure Bank, by then I was no longer the CEO of CDPQ.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  As I mentioned in response to the previous question, I was asked by the former minister of finance, Mr. Morneau, to join the council, which I accepted, along with about a dozen other people. We took on this pretty broad challenge of developing some ideas for the government to consider and for the government to elaborate on.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  Yes, it certainly does because growth is about the combination, as you know, of labour force growth and productivity, and infrastructure is an indispensable part of improving Canada's productivity. Now it requires other things as well, but infrastructure is an important piece of it.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  My employment was being the CEO of Caisse de dépôt et placement du Québec. On a volunteer basis, I accepted to participate in the work of the growth council.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  Yes, but those two things are completely unconnected.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  No, they don't.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  We did use McKinsey from time to time at CDPQ. I think we did, yes.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  I'm sorry. I don't.

May 16th, 2023Committee meeting

Michael Sabia

Transport committee  I do not recall precisely, but I think not, although I could be corrected on that.

May 16th, 2023Committee meeting

Michael Sabia