Thanks, Madam Chair.
Thanks to all the witnesses for being here today. It's a great conversation, with lots of great testimony.
Professor Loomer, I'll start with you.
I know you have made comments in the past about the general anti-avoidance rule and how it historically perhaps failed to meet its intended purpose. I hope I'm not mis-characterizing your comments, but I took that from something that you've said in the past.
How do you assess the government's recent changes to the GAAR, including the introduction of the 25% penalty that was included in Bill C-59, the fall economic statement?