I thank you both very much for your presentation and the answers that you've given to some important questions.
I have two questions.The first is just a clarification on page 8, the first paragraph, which comes under the heading of “Salaries”, about halfway down. It's speaking about the Expenditure Restraint Act.
The sentence begins as follows:
However, it is important to note that the Act will not be applied retroactively and any agreements that were reached prior to the Royal Assent of the Act will be respected. Salary adjustments after Royal Assent will respect the Act and will be included in future funding requests.
Am I right in believing this means if there are collective agreements in existence at this time that are multiple years, and those multiple years go beyond the date of implementation of the Expenditure Restraint Act, then those collective agreements, if the wage increases have been agreed to, negotiated, signed, and are now part of a legal document, will not be affected by the Expenditure Restraint Act?