Thank you very much, Mr. Chair.
I want to thank all five of you, not only for your fantastic testimony but also for the materials you provided. They are exactly what I was looking for. We, in our party, are particularly interested in the cost savings side. We're in a time of fiscal restraint across the world, and that's why we're particularly interested in looking at this. Obviously there are environmental benefits to it as well.
I have lots of things to ask. I'm glad that a lot of what you said is already on the record, and we'll try to follow up on it.
I have two key questions. In my first one, I want to commend REALpac for page 80 of your presentation on your package of reforms. These are things that I've been interested in pursuing for quite some time. It is really exciting to see it coming from your sector. I don't have time to get into all of these in detail, but it's absolutely fantastic information that we hopefully can follow up.
The question I would like to put to REALpac is about your specific recommendation to increase the tax depreciation rate for boilers, chillers, and so forth—essentially equipment for heating and cooling—to up to 50% to incent energy retrofits. You gave the example of a 100% tax deduction for the U.S. and the U.K. I wonder if you could elaborate a bit on how you think that might encourage retrofits. We're looking specifically here at investments by the federal government to improve its energy efficiency.