Thank you for the question.
Indeed, we see them as levies on the economy. In the short term, an impact will certainly be felt. It's already clear that the economic recovery is very slow, not just in Canada, but also everywhere else, including the United States, Europe and emerging countries, which we may have relied on a bit more in the past.
Those levies will add up and deter job creation. In the long term, however, benefits could flow.
There is also a focus on encouraging savings, but is this the only way to do that? Efforts have been made in the past, including the federal government's pooled registered pension plan and Quebec's voluntary retirement savings plan. Time will tell whether those plans prove successful.
As I also said in my opening remarks, the need for retirement savings isn't generalized. A number of studies have shown that. This certainly won't help low-income earners meet their retirement needs. I don't think it is meant to help the rich either. If you examine the measures designed to help the households who may need them, you're looking at about 30% of households, not 100%. We don't need a universal solution because the need isn't universal.