Thank you, Minister, for being with us today.
Minister, I know we have about a $40-billion deficit and that there are different ways of addressing deficits over time. We can cut expenditures, as I think the Conservatives would do, and there's growth in the economy, which I think everybody hopes for, and there's raising revenue in, hopefully, a fair and measured way.
Given that oil and gas extraction companies in Canada made a record $63 billion in profits in 2022 and that they are, I think, on track to come close to that in 2023, can you explain why your government has declined to impose an excess profits tax on the oil and gas sector, as it did for banks and insurance companies in 2022, which made significantly lower profits?