Thank you.
When we talk about the fund that we're asking to be enshrined in this act, it's a dedicated revenue stream. Between between 2009 and 2014, the LPIF was a fund that took cable company revenue and directed it into local news.
From 2015 to 2021, the impact of Netflix, Amazon and the rest was about $400 million. That is more than the entire expenditures of all of the local TV news budgets in this country. That is not an insubstantial amount of money that has been taken away from the Canadian news ecosystem because of Netflix, Amazon and the rest. We need a portion of that money put back into the system, so we can adequately fund local news across the country and reach all of our communities. Then every community can have local television news and we'll know what our politicians and our city councils are up to. We can build back our communities.