Thank you, Mr. Chairman.
Thank you for your presentations. It is always interesting. I only have seven minutes, so I may have to interrupt you at times.
My first question is for Mr. Godbout.
The fiscal imbalance and equalization issues are complex. Two years ago, there was a presentation made before the Standing Committee on Finance in order to explain the existing formula. I understand there may be only 12 or 15 people who genuinely understand the equalization formula. I think there may be one person within the Department of Finance of each province and a few academics in universities who understand it.
As I mentioned, it is a complex issue. Several studies have been carried out, namely this year, on equalization and the fiscal imbalance. You referred to the Séguin report. I don't know if it's the most recent report.
You also referred to the GST and the fact that provincial governments could perhaps access part of it. Has the fact that the Conservative government decided to decrease the GST from 7 to 6% meant that the Government of Quebec, for instance, could take that 1% difference? Is there a reason why it could not access that 1% immediately and 2% later on?