Thank you very much, Mr. Chair.
Good morning to all our witnesses.
I certainly appreciate the diversity that's represented on these panels, so I don't mind that we have folks from many different industries being represented today.
My first question is for the Association of Equipment Manufacturers.
I'm looking at the cover letter you sent with your submission. You state that you would urge the federal government to modernize CCA rates to allow equipment buyers to more rapidly depreciate their investments in new capital equipment and specifically to increase the depreciation rate for CCA class 10 from 30% to 40%. You also mention the significant environmental benefits in doing that.
What is the economic benefit of increased depreciation rates for investments in machinery?