Thank you very much.
I'd like each of you to opine on some of the recommendations from the Canadian task force on social finance and the whole emergence of this type of approach to social finance. I believe the Royal Bank recently put a $25 million fund in place for this.
The task force has actually made some specific recommendations, including those regarding some tax reform measures around tax incentives: “to encourage private investors to provide lower-cost and patient capital that social enterprises need to maximize their social and environmental impact”. They've cited some examples in the U.S. with the new markets tax credit. I'd appreciate your views on this. It seems like an exciting development within the philanthropic sector, and particularly the accountability and the milestones and the almost traditional term-sheet disciplined approach to giving.
I'd really appreciate your views, because we as a committee have not yet heard from the round table, but I'd pre-emptively like to hear from you today.