I want to comment on the reserve amount, which seems to be the main concern of almost everybody at the table. Everybody seems to view this as a significant move forward in terms of the yardsticks, but there's this question of the reserve and maybe potential miscommunication or misunderstanding.
Based on what we heard from the witnesses the other day, my understanding is that the rate-setting and reserve amount determination are two entirely separate issues or exercises. The rate-setting, the one-year window looking forward, is one exercise. The reserve amount determination, which was done by the chief actuary for the EI fund, was done separately at $2 billion, with the consolidated revenue fund backstopping that if there was a need. My understanding is that the reserve amount will in no way affect the operation of the EI program in terms of the amounts. If there's a deficit of some sort, which seems to be the biggest concern, the CRF would backstop it, and eventually things would be brought back into balance through the mathematical formulas that are in place.
If you know that the reserve amount will in no way affect the operation of the EI program, does that allay some of those concerns you have expressed?
Mr. Hanson.