Thank you, Mr. Chair.
I'm not going to belabour the point on this one, but I'm looking at clause 10. The mention of “spending or fiscal incentives, including a just transition fund for industry”--I think I know where that comes from. I think it comes from a Canadian Labour Congress proposal. But there's not a lot there that discusses what the just transition fund in fact will be, what it will look like, how it will be used. I do recall that it was a just transition fund for workers, not for industry specifically as well, so the language is exclusive to that.
At our meeting of Wednesday, February 6, we had economists here. We not only had the Canadian Council of Chief Executives represented, but the Canadian Gas Association was here. The one who was actually an economist, Mr. David Sawyer with EnviroEconomics, talked about significant economic dislocations, and he modelled some costs for the benefit of the committee. I think he said that Bill C-377 would be somewhere around $200 a tonne in terms of the price of carbon.
I did ask some questions about some of the fiscal incentives, though, some of the other things that were not present in the economic analysis. I asked about income replacement costs, which is what I suspect the just transition fund is all about, and whether or not the cost of that was addressed in the carbon price he had set. He said, “We don't have numbers for lost income, but you could look at the burden on households, and you could look at the burden on the various income strata”, and then policy could be used to address that.
I just want a clarification. Is the just transition fund intended to address income replacement? Is it for capital investment? I'm not entirely sure what he means by “just transition fund”. It's the only one of the fiscal incentives that's actually specifically mentioned. I'd like him to be specific about what that would entail with respect to the government. It's more of a question than a....