Thank you, Mr. Chair.
Thank you to each of you for your interventions and valuable input this morning.
I'd like to start with the whole issue of taxation, Mr. Hayos. We've heard from the CGA organizations about the need for tax reform or a comprehensive study of our tax system in Canada. There hasn't been a really comprehensive study of tax reform or the tax system since 1971 with the Carter commission, and the economy has changed dramatically since then.
You talked about tax simplification. There's been a trend in recent years for boutique tax credits for different types of activities that individual Canadians may participate in. If you look at different types of personal tax credits in Canada, there are a lot of costs associated with these. Just in this current budget, three of the tax credits add up to around $300 million per year. Do you think broadly that we'd be better off to—instead of going into these boutique tax credits for specific types of behaviours or activities that families or individuals are participating in—just cut personal income taxes and perhaps focus on lower- and middle-income tax cuts instead of the sort of niche boutique tax credits?