Thank you, Mr. Chair, and I'd like to thank all of the witnesses.
I'd like to focus principally on the tax leakage issue and the witnesses who have dealt with that question. I notice Mr. Kesteven referred to TELUS and BCE. I made the point earlier that because TELUS and BCE are saying they're not paying essentially any corporate taxes going forward, if they had become trusts, it would not indeed have cost the government tax revenue. I believe you agreed with that statement. Is that right?