Thank you, Mr. Chair.
Thank you, Mr. Minister, for joining us today.
You know that the Governor of the Bank of Canada said this summer that there were issues regarding money referred to as dead money—which consists of over $500 billion sitting in private companies' coffers. You also talked about that.
I want to quote what you said:
We've done a lot through the tax system to encourage Canadian executives, business people, to start utilizing some of the capital they have on their balance sheets. At a certain point, it's not up to the government to stimulate the economy, it's up to the private sector, and they have lots of capital.
Now that we know that about $525 billion is sitting in those coffers and is not being reinvested in the economy, could you explain to us why your budget and your measures failed to fix that problem?