Thank you. I think clarification is important, since in fact a lot of people hang on to every one of your words, and it needs to be considered in this debate. I think we need to consider also what many have said—that is, that income trusts exist for one reason only. I'm not saying these are your words, but my perception of the experts' advice on this is that they offer a tax benefit to investors in trust that was not available to corporations, which I think has been stated clearly to try to refute what Mr. Tait and Mr. Fortin have tried to say to us.
I'd like to go to them, but just before I do, Mr. Hibbert, you have over the years made important assessments of existing trusts and concluded that there was significant overvaluing and that there are serious problems for people who hold trusts in terms of getting value for their investment. Could you elaborate just a bit on the problems that exist and what would happen in the absence of any government action putting a lid on trusts?