There are two answers to that question. First, what have we had to take out? What a lot of manufacturing has done.... You're quite correct, a 43% increase in the dollar is equivalent to a 30% reduction in our selling price, the inverse of the impact of the dollar. What industry has had to do to try to compete with that is either improve their productivity, lower their cost of materials by sourcing globally or using alternative materials and alternate designs, lower their overheads through payroll reductions--which has been the dominant impact in this industry, with an 8% reduction in total employment--or move operations south.
In the appliance industry specifically, there were 34 appliance manufacturers at one time. There are now three left, two of which are in the province of Quebec. One is in Ontario. What our industry has been doing is relocating and downsizing operations, and that's not healthy for the economy.
Embedded in the problem is the overheads, and there are limitations to what industry can do. We can correct labour. We can correct material. In many cases the declining dollar or increasing dollar has actually helped to lower our material costs. But what we're seeing is our overheads are not decreasing. To give you one example, taxes in terms of the U.S. currency have actually increased 69% in the last four years. So our challenge is how to lower those costs. The alternatives are typically to relocate, to downsize, or to outsource.