I'm going to keep the ball rolling. The opportunity is too good.
In people's minds, Hydro-Quebec generates, transmits and distributes electricity. Hydro Ontario produces, transmits and distributes electricity. The two organizations belong to their respective governments, but as a result of administrative, legal, and whatever other differences, the Government of Quebec receives less money. In its last budget, it stated that that difference was approximately $250 million a year.
I'm quite pleased that you've confirmed that the equalization program is a federal program that is not the subject of agreements. This is a transfer from the federal government to the provinces. We already knew that, but it's nevertheless good to have that confirmed for us. The federal funding sources are not the provinces. It isn't the provinces that hand the money over to the federal government, but rather the taxpayers and businesses that contribute to the Canadian tax base. Quebeckers pay direct and indirect taxes and royalties to the Government of Canada, and the government redistributes them through the equalization program. Contrary to the urban legend about the equalization program, the principle is not that the rich provinces hand money over to the poor provinces; it's the Government of Canada that redistributes funds through the equalization program.
So far, I don't believe I've made too many mistakes.