Thank you, Mr. Chairman.
Thank you for having responded to our invitation. The committee unanimously recognized that it had to begin its pre-budget consultations on the Canadian dollar because it feels that the strong loonie has already deeply affected the economy and that it will also influence the budget. I believe all committee members felt this to be an important issue which should be made a priority.
Mr. Stanford, I was deeply touched by what you said. You said that if nothing is done, we risk losing 300,000 jobs within the next two to four years. I was also struck by what Mr. Myers said. I am probably also struck by the fact that management and labour alike are saying that this is a pressing matter. I understand that the measures contained in the economic statement, such as across the board tax reductions, do not address your problem.
Could you tell us in more detail what it would take in the short term to produce goods which people will buy, yet nevertheless remain competitive?
Perhaps Mr. Myers can answer first.