Thank you, Mr. Chair.
I'm going to read a quote from something I was reviewing this morning. It's dated August 30, 2016, and it's from the Canadian Vehicle Manufacturers' Association. It's a preamble to the specifics of the question that I want to ask you. It's section 3 of their pre-budget submission, which says:
Increases to the costs of doing business in Canada, including the proposed increases in CPP employer contributions (payroll taxes), will negatively impact Canadian automotive competitiveness with other jurisdictions where costs are lower. Certainty and predictability are key factors when global investment decisions are made.
As part of the announced Canada Pension Plan...enhancement, it is important that the government recognize the fact that auto manufacturing companies already provide high quality private pension plans to their workers. If CPP premiums are increased as proposed, this will result in significant increases to auto industry payroll expenses at a time when there are already competitiveness challenges for the industry in Canada versus other competing jurisdictions.
That leads into my question, which I'll ask you as government officials. Have you done a full analysis before this legislation of the impact of premium hikes on such things as business competitiveness, household income, jobs, and GDP, or will you be doing that and modelling it, as you say, in current economic circumstances before legislation is placed before the Commons?