Thank you very much, Jacques. I expect there will be some questions.
Before I turn to the last witness, the people in the lineup for questions will be Mr. Falk, Mr. Fragiskatos, Mr. Ste-Marie and Mr. Masse.
We turn now to our last witness, from the Organisation for Economic Co-operation and Development. Philip Hemmings is head of the Canada desk, economics department.
Welcome, Mr. Hemmings. The floor is yours.