Thank you, Mr. Chairman.
First, I would like to thank you for being here this morning. What you had to say was very instructive. I also think it will help us decide what recommendations we should make regarding Bill C-50. Earlier, the chair was saying that you were a little concerned about politicians. I understand that, particularly in light of what happened to the $54 billion.
My first question will be to you, Mr. Kelly-Gagnon.
I was rather surprised to hear you say that the Conseil du patronat du Québec had given up recovering the $54 billion, which you described as a notional amount. When employers paid 1.4% of salaries and wage earners paid money into the fund too, there was nothing theoretical about it. It was real cash.
Why do you say this was a notional fund? Is that not somewhat pernicious?