Thank you, Chair.
I thank the witnesses.
My first question is to Mr. Baker, and it was my last question to Mr. Baker the last time he was here.
I've written to you subsequently and you did respond, but I'm still not clear. The government, with great fanfare, introduced the tax-free savings account. I was trying to get a handle on what this is actually costing in terms of reduced revenues, actual out-of-pocket expenses, and things of that nature.
On the actual out-of-pocket expenditures, it appears that's around $19 million, declining over the years to around $15 million on an annual basis. It starts out with about 100 people and then it ramps itself up to about 180 people just to run this plan. But what's not clear to me is how much revenue is actually forgone in order to do this plan. That's my first question. Is it fair to say that in the first year you're going to be down $20 million if there's not a dime put into this plan?