Thanks.
I wish I could share my time with you, Mr. Green, because I enjoy where you're going.
I want to get back to the wage subsidy. Somewhere in the report here it is said that the Department of Finance did a full and complete analysis, which the department acted upon, but it sounds like only an analysis of how to give out the subsidy and not whether it's targeted.
I was talking about some of the market capitalizations. A perfect example is Lululemon, who saw their market capitalization go up $15 billion last year, yet were still accessing the subsidy.
I'm going to skip over that, please.
On page 13 of your report for the wage subsidy, paragraph 7.61 says:
With the limited data it had, the agency conducted a business intelligence exercise in June 2020—that is, the agency analyzed data....
Then it says:
In 35% of subsidy applications, the GST/HST collected in 2020 was 35% higher than the employer’s gross revenue as reported on its latest income tax return filed.
Am I reading that right, that the people self-attesting to claim the wage subsidy were claiming a higher GST collected than they actually had in entire revenue the previous year?