Thank you, Chair.
Thank you all for being here. I'm new to this committee and this is a fascinating education for me. I'm beginning to get a picture.
One of the pictures that I've gotten is you mentioned that traditionally this stems from the days of the feudal times when the king was trying to get more money and tax the people. The shift is definitely that the king was trying to get the money and spend the money and now the people are spending the money and getting the king to agree to that money being spent.
The one thing that I'm finding is key to this whole thing is predictability, isn't it? You have rightly pointed out that the main estimates are budgetary items that we know we're going to spend. Then during the course of the year we find these unpredictable things that cause us to have to go back to the king, the crown, and say we need a little more money. Have I got that right so far?