Thank you for that answer.
I'll move on to another topic. Over the past couple of meetings, we've had Treasury Board officials here. They've discussed how our new government's red tape review is unfolding. You briefly touched on it in your opening remarks. It's important to find a balance between necessary regulations that protect the health and safety of Canadians and regulations that make it harder for Canadian businesses to operate and, more specifically, generate revenue.
According to the Canadian Federation of Independent Business, the combined cost of regulation to businesses from all three levels of government was estimated at $51.5 billion in 2024, with approximately $17.9 billion attributed to red tape. Additionally, the CFIB found—this is fairly obvious—that regulations hurt small businesses with five employees or less much more than they hurt large corporations.
Can you talk to me about the red tape review our new government has introduced and how it will help with productivity and support small businesses across Canada?