Thank you, Chair.
Thank you for joining us today. It's extremely important that you have identified the rare opportunity that a country the size of Canada has to identify this level of program spending on a long-term basis, and a real opportunity to make it work for the country's industry.
First, could you tell us what's wrong with a policy that says we'll give 100% to industrial and regional benefits offsets, IRBs, as a backstop to a contract that perhaps goes offshore? What's wrong with that as a strategy? Although it's not necessarily an industrial strategy like you're talking about, it is a strategy that seems to be in vogue. What's wrong with that from an industry point of view, and why would the defence industrial strategy that you're talking about be better?