Thanks very much.
Mr. Kelly, I'd like to start with you. The research your organization has done is quite revealing, and it speaks to the significance of these tax proposals. I appreciate, in particular, your reminder of why the rate on small business taxes is lower in the first place and what's lost in this are things like the cost of compliance to be a small business operator. Many small business owners would spend two, three, four, or maybe five or six per cent of what would be their profit on just compliance, having access to professional accounting, to legal, and to all of these things. A lot of this is forgotten in much of the debate.
I spoke to one of your counterparts in your provincial association last week, who talked about the immediate effect of the uncertainty: business owners either reconsidering or cancelling expansion plans, accelerating retirement, moving assets out of the company into personal names now, triggering immediate short-term, one-time tax bonuses to the crown while contributing nothing further, once that's done, to expanding the economy.
Do you want to add anything that you've heard from your own members about the immediate effects of this?