Thank you, Mr. Chair.
It's a pleasure to have the opportunity to ask a few questions of Mr. Carney, a man I've known in a previous life. I have great respect for his professionalism, intelligence, and integrity, if not his ability to predict the timing of the shift-over of prime ministers in the U.K. The two of us have a bet on that subject.
I'd like to ask about interest deductibility. I must say I'm a little puzzled, because here is an item presented in the budget as if it will cost $40 million a year. Now we have the Chamber of Commerce saying it will be $1 billion to $2 billion a year, and people in the private sector I've spoken to have a similar view. So how can this item, which is turning out to be a huge tax measure, be introduced into the budget with an estimated revenue impact a tiny fraction of what experts now tell us it will be?