Yes, I'll be finished in one minute.
According to a recent projection by the National Bank of Canada, if the Canadian dollar rises to US$1.02, the profit margins of five of the 19 Canadian manufacturing sectors will be reduced to zero, which will of course be disastrous for Quebec and Ontario.
In conclusion, CSN believes that economic recovery is far from guaranteed. There are still disturbing signs, and the war is not yet won in the most developed economies, particularly that of our neighbour to the south. Consequently, CSN believes that the federal government must pursue an interventionist strategy. Focusing entirely on fighting budget deficits, to the detriment of the economic recovery, would be a serious mistake that could have harmful effects in the short and medium terms.
Thank you, Mr. Chairman.