Thank you, Mr. Chairman.
I'd like to thank all of you for your presentations.
Ms. Urquhart, in your submission, you talked about a problem that is specific to income trusts, namely the fact that trusts often distribute more money than they effectively have. However, you did not comment on the decision taken by the Minister on October 31. Based on your analysis, do you agree, or disagree with the government's decision to block income trust conversions and to provide a four-year transition period for taxing income trust distributions?