Governor, you commented on the three tools, if I could call them that: monetary policy, fiscal policy, and structural change. On the fiscal policy side, your estimates from the April monetary policy report, incorporating the budget and fiscal measures in the budget, was for about 0.5% boost to growth in 2016, which is line with the finance department, and 0.6% boost for 2017, which is under by 0.4% from the finance department's estimate of 1.0%. So there's a slight change there.
I want to touch on one thing that you had mentioned a few months ago about infrastructure investment being an enabler for long-term economic growth, and you had commented on that to the parliamentary secretary as well; how important investment in infrastructure is to enabling long-term economic growth and improving our productivity.
In that vein, in terms of the productivity front, and with reference to your comment on structural changes, what measures or areas could you see improving the Canadian economy to deal with the structural changes that you may have mentioned? I know you mentioned free trade. Could you comment on the efficacy of our tax system, not on specifics?