Thanks to all our witnesses for being here today. We certainly hope that you and your families continue to stay safe and healthy during this pandemic. We appreciate your coming forward today to talk about Bill C-14, but also the fall economic statement.
My first question will be for you, Mr. Macdonald. The fall economic statement, when you look at the summary statement, foresees as of the next fiscal year starting April 1—starting in two weeks—a dramatic reduction and cuts in program expenses. At the same time, we've had many witnesses talking about the importance of continuing supports, particularly in light of the third wave, and in fact expanding some of the supports to sectors that have suffered the most during this pandemic, yet in the fall economic statement there was really no effective initiative around revenue.
I'm particularly addressing the issue of the wealth tax. The CCPA did a study a couple of weeks ago, which showed that the wealth tax would be bringing in substantially more revenues than originally foreseen. When we're looking at a scenario where Canada's billionaires have added over $60 billion to their wealth through this pandemic, do you not believe that the idea of tackling that massive inequality that we're seeing, through such provisions as wealth taxes, is a good way for the government to respond to the crisis?