Thank you.
I think we would all agree that a perfect regulatory environment is going to balance the public good—public safety—with the interests of business and our broader economy.
I'll give you one example: the way we regulate sunscreen in Canada. If you go to the United States, you can pick up a bottle of sunscreen for much less money, and there are more options. Here in Canada, we regulate sunscreen as a drug or a natural health product, and companies spend quite a bit of money jumping through many hoops with Health Canada to get approval in Canada. When you go into a Canadian drugstore or to a Canadian cosmetics company, you're going to see many fewer options, and those options are going to be significantly more expensive.
Now, that's just a very small segment of the economy, but I think we can see it across all industries. When we have a regulatory burden that, yes, is protecting the individual or the broader social good, is it balanced with other jurisdictions? We have to remember that we are not an island. We are competing with other jurisdictions across the globe for investment and project approval, but there's also the general public interest.