Thank you, Chair.
I'd like to start by bringing in some inconsistencies that I see with the Conservatives' economic policy. On one hand, it seems that they think the government spending we did to protect our economy has created inflation, and at the same time, they're particularly concerned about inflation in housing.
Governor, as you said very well today, it's not about spending, it's what you spend on. If you spend to increase the supply of housing, for example, you actually reduce the inflationary pressure on housing.
I hope they will reflect and focus on that: What you spend on is really the key to increasing the supply in some pressure points.
In general, my concern right now is really climate change. As we know, and as you said, climate change will lead to droughts. This will put pressure on agriculture, increase food prices and cause supply chain disruptions.
Governments are certainly using their current tools to make a green shift. One of the best tools to help our economy transition to a green economy is to set a price on pollution. The OECD economists are sure of this.
How do you see climate change affecting inflation in the food sector? Food is a commodity for low‑income Canadians. It's very important.