Thank you for the question, Mr. Chair.
In response to the budgetary impact of section 27 of the Bank of Canada Act, you are correct that there is a cash flow issue. However, since the Bank of Canada is a government Crown corporation, its account is consolidated with that of the Public Accounts of Canada.
The measure itself has no impact on the government, but you are absolutely correct that the profits, the losses or the earnings of the Bank of Canada have a direct fiscal impact on the government. However, the information you have in front of you simply applies to the fact that the measure itself has no incremental fiscal impact on the government.