Let me talk about the channels of impact in terms of how low commodity prices would ultimately factor into lower economic growth in Canada.
Lower commodity prices would ultimately translate into lower nominal income for the economy, so lower profits for corporations and lower wages for Canadian workers. A second effect would be lower investment in commodity assets, so lower investments in the oil sands, lower investments in LNG facilities. But overall, it's ultimately a reduction in our terms of trade as well. The price we get for imports would be lower in relative terms vis-à-vis where commodity prices started versus where they would be in a shock minus control scenario.
Ultimately, it's lower income for the Canadian economy.