Thank you, Mr. Chair. I'm happy to be here.
Mr. Greco, perhaps I'll start with you. I have in front of me a letter that was written on May 9, signed by Mr. Beatty, the head of the Canadian Chamber of Commerce. In the letter he comments at length about the budget that was delivered, and particularly the increases in the capital gains inclusion rate, which aren't self-regulatory in nature as the Income Tax Act is.
In the letter, he says:
As national industry associations representing Canadian companies committed to growing our economy, investing in this country and creating more opportunities for Canadians, we are alarmed to see these goals threatened by Budget 2024's proposed increase to the capital gains inclusion rate.
Further down, he says:
...the increase in the inclusion rate to 67% is deeply concerning to Canada's business community writ large.
He goes on with this line of argument, and then he says:
The assertion that the increase of the inclusion rate to 67% will only affect a small percentage of the wealthiest Canadians is misleading.
I point out that he signed it, and along with him, signatories are Dan Kelly from the CFIB, Mr. Darby from Canadian Manufacturers and Exporters, Kim Furlong from Canadian Venture Capital, Sherry McNeil from the Canadian Franchise Association, and Dave Carey from the Canola Growers Association.
Do you stand by those comments made by Mr. Beatty?