Thank you, Chair.
I want to welcome all of the witnesses. Thank you for your testimony today.
My first question is going to be directed to Mr. BĂ©land.
I am subbing, in fact, for my colleague Daniel Blaikie, as was mentioned earlier. He recently read the book you co-authored, Fiscal Federalism and Equalization Policy in Canada, which he thought gave a nice overview of fiscal federalism as it exists in Canada. He also recently read A Good War by Seth Klein, whom the committee has already heard from.
One thing that Seth Klein talks about in his book is the idea of a climate transfer under the equalization payment model as a tool that government could explore using to combat climate change. As an expert on fiscal federalism, I'm wondering if you would be able to talk to us today about whether that is something you think governments could look at. What kind of consideration should governments take into account in discussions like these? Do you think there are any pitfalls around the idea of a climate transfer?
Thank you.