Thank you very much.
I'll start with Mr. Boadway. If I have the chance, I'll go back to Mr. Bonnell after.
I'm really glad to have you here Mr. Boadway. We have had you here in the past, and we always talk about people having written a textbook on something, but you have literally written textbooks on tax issues and taxes in Canada, so it's really interesting to have you here. One thing is that you have always submitted information elements and proposals suggesting thinking outside the box while still being credible. Those have forced us to think in a different way.
I can see your proposal is doing that as well.
If you don't mind, I will continue in French.
There is one particular factor I wish to mention. You support capping the TFSA at $5,500, as opposed to the $10,000 that had been proposed. You are aware of the Parliamentary Budget Officer's report on the tax implications of the TFSA. He stated at one point that the account was going to cost tens of billions of dollars if the limit was not reduced to $5,500. The fiscal impact could have reached 0.65% of the GDP, which does not seem like a large figure, but since we are talking about the GDP, it is a considerable amount.
Do you agree with the conclusions of the parliamentary budget officer in this regard?