Thanks to all the witnesses for being here this afternoon.
We have a unique responsibility here at the finance committee during these pre-budget consultations, insofar as we have to submit a number of recommendations on how to use what we anticipate will be an upcoming fiscal dividend. It's very important that we are able to separate the wheat from the chaff when we submit our recommendations at that point.
I want to begin with you, Mr. Petrou, if I may. We are at a very critical crossroads in the aerospace sector here in Canada. We saw that with the Emerson report, which highlighted all of the difficulties and the challenges we have going forward.
I have a number of avenues I want to go down with you, but initially, could you talk about how competitive the international marketplace is in the aerospace sector right now? If we don't get on that train which is leaving the station now, we're going to be in a lot of trouble.