Thank you, Madam Chair.
David Maloney and myself are appearing on behalf of Treasury Board and are pleased to be here to answer your questions in the context of your study of budget cuts announced on September 25, 2006.
We are here to follow up on the appearance on October 17 of the President of the Treasury Board, the Honourable John Baird; the Secretary of the Treasury Board, Mr. Wayne Wouters; and Mr. Moloney.
In his opening remarks the president outlined the government's budget 2006 commitment to fund from existing spending $1 billion of the approximately $5 billion in new spending announced in the budget. The president explained that the savings would be identified by reviewing government programs against the principles outlined in the budget. He explained those principles, and he explained how those measures would be implemented and outlined the principles that'll guide spending in the future.
That's all I have by way of an opening statement, Madam Chair. We look forward to your questions.
Thank you.