Thank you, Mr. Chairman.
We've had a lot of discussion on financing this morning. I take the information you gave us. I just want to ask this. My understanding is that there's a rumour going around that we have heard from the Media Guild and others that the CBC's spending budget could be cut by 5%. I have also heard that it is supposed to be across the board. Could you tell us, Mr. Rabinovitch, what exactly that would mean to the CBC if that were actually to happen? I think it's important for us to know, if we're going down that road, what that means.