Merci.
Mr. Clark, it's good to have you at the committee. I appreciate your insight as somebody who has spent a lot of time crafting budgets over the years.
On the risk of lower oil prices and the impact on our economy eliminating the surplus in the mid-term, what is the risk of income splitting to the fiscal integrity of the federal government? I think the price tag as proposed is $3 billion.
Also, what would be the impact on provincial fiscal frameworks, given that there's a $1.7 billion cost to the provinces? What would your insight be both on the federal and provincial fiscal situation?