After the Inflation Reduction Act was unveiled in the U.S., we very quickly began advocating strongly for Canada to take appropriate actions on investments in building the clean, net-zero economy so that it doesn't all happen south of the border. The evidence of the impacts of the IRA are starting to show themselves. I think that factory construction starts are up 70-some per cent year over year in the United States, so they are attracting a lot of investment.
We were pleased to see the investment tax credit decisions that were announced through budget 2023, and we really now are focusing our efforts—and hoping the government focuses its effort—on accelerating the implementation of them. We have some timelines attached to them, but there's still a lot of guidance and implementation information that manufacturers don't have, which slows, or in some cases delays, investment decisions.
We were pleased to see the ITCs that have been proposed so far, and we're now waiting for final guidance on implementation so that investment decisions can start being made.