Thank you so much for that.
Mr. Brosseau and Mr. Letko, that was very disturbing information, but it's needed. It was necessary for us to hear that in 1990, 80% of pension investments were in Canada and now we're down to about 4%.
As someone who deals with a lot of innovators, we have a lot of great money to invest in new companies and new entrepreneurs. However, a lot more investment is needed in the second, third and fourth stages. There's a great need for funding of Canadian innovation and the Canadian economy.
My first question to you is how does the 4% compare to the situation in other G7 and OECD comparable countries? That's just so we get an idea about what typically happens with pension funds in other countries. Then, could you be a little more specific about your recommendation on how we can change that? I know you indicated that there is a mixture of policy and regulations, but can you be a little bit more specific on what your recommendation might be for our committee?