Thank you, Chair.
Thank you to all the people presenting today. I'm actually from the West Kelowna area, so thank you for coming to our area if you're not local.
I'm going to start first with Kathy Conway at Interior Savings Credit Union. I'm going to be keeping all of my questions very tight, so if everyone responding could keep them equally tight, I would appreciate it.
First of all, you talked about tax fairness and the changes that were made in 2013. The end result is less retained earnings and fewer loans. Is that correct?