I just have to correct the record, Madam Chair. We were very clear in our December 2023 statement that we were forecasting a $125-million deficit, and that was due to a number of factors, including pressures as a result of coming out of the pandemic, with the inflation and rising costs of production, and increasing declines in advertising revenue linked to television.
Yes, we also faced a 3% cut from the federal government. That was a forecast, and I should be very clear that it was a forecast over three years. The first year, it was about $11 million. That was not the deciding factor that tipped the situation for us. It was a piece of it, yes, indeed. There was also $21 million in integrity funding linked to the pandemic that we also lost that year.
Just to be very clear, when we look at our budget, we look at a holistic situation and not single items.