Thank you very much. That was some fantastic testimony. Maybe I could summarize that and then ask you a question to build on it.
I'm aware of the U.K. example. You said it's 18 billion pounds between businesses and consumers. I cannot remember the conversion rate off the top of my head, but I imagine that's around $30 billion to $40 billion Canadian in savings for businesses and consumers. We're introducing competition in the financial services market in a very competition-deprived area and sector of our economy, for one, and we are driving down costs for consumers and businesses.
The last part, which I thought was very interesting as well, is that you're going to allow individuals who may not otherwise qualify for credit to get credit, because there's additional data that can be provided with respect to open banking, allowing individuals who maybe couldn't get a mortgage before to qualify, or those who couldn't even get a place to stay to qualify for rent. We're going to help the most vulnerable. We're going to help businesses. We're going to help consumers. We're going to restore and input a bit more competition into the market.
Have I said anything incorrectly, or would you say that was fair?