Thank you, Chair.
Thank you to the witnesses for coming here today.
The IMF recently praised Canada's decisive action to modernize its budget framework, including splitting the capital and operating spending, which we've been talking about. It said:
Both Germany and Canada recognize that in this very testing time, they need to use their fiscal space....one of these actions is indeed to reform—modernise the budget framework by (...) separating operating expenses in the budget from investment—that ability to then focus strategically on investment[s] that are pro-growth, and that can lift up productivity.
Does your analysis reflect the benefits of that reform? You touched on some of the specifics, but in a broad sense, do you see this as something that could be beneficial?