I'm wondering if you might be able to clarify two points. One relates to our exchange rate, the Canadian dollar. We conducted a few hearings into the Canadian dollar here in the finance committee in November.
I'll read you a couple of paragraphs. This is when we had one of our meetings and the Minister of Finance was here:
OTTAWA - Finance Minister Jim Flaherty says problems associated with Canada's high dollar are diminishing, although there is no quick solution on the horizon.
After Tuesday's hearings before the finance committee in which manufacturers pleaded for relief from the impact of the strong loonie, Flaherty said while the Bank of Canada and the government have “some tools,” there's no quick fix for currency fluctuations.
But he said he's pleased that retailers are beginning to pass on some of the savings from the strong dollar to consumers.
That was November. Now we're into March. Was the minister right? Were the problems diminishing from the impact of the high Canadian dollar? How do you guys assess it now?