Thank you, Chair.
Welcome, Mr. Fréchette and your team.
I want to go back to the rather sobering comments you make about fiscal sustainability. I was delighted to hear you confirm that the Canada and Quebec pension plans are sustainable, but in contrast the consolidated provincial, territorial, local, and aboriginal governments sector is not sustainable, you say, with a fiscal gap of 1.9% of GDP. I'd like you to spend a little more time explaining what it simply means to say “a fiscal gap of 1.9% of GDP”.