Thank you, Mr. Chair.
Thank you all for appearing. I mean that, too. I really appreciate your testimony. It's remarkable to listen to you, and the achievements that you've made in this country are commendable. I think you need to be told that, as well.
There's one element, though, and I'm going to touch on that at the risk of possibly exposing myself as a base capitalist. I'm an auto dealer, and, like you, I went to work each day. We like to talk about our achievements and the things we've done, and they sometimes need to be acknowledged. It was Adam Smith, I think, who said something to the effect that it's not for the benefit of the butcher that the baker gets up in the morning and bakes his bread, and I think that's something that we have to recognize. There's nothing wrong with that. If we're basically honest, we can say that too.
What I'm trying to translate to you is this: the good things that you do for consumers, you do for profit. You know what? There's nothing wrong with that. That makes sense. That's how our system works.
Understanding that, accepting that, and admitting to that, when you look at competition, each one of you has said that you really don't have any objection to that. I know the former panellist said something to the effect of how they had built up capital, and that's an incredible advantage. If somebody's going to enter the field and offer a new service, he has to go through all those painful endeavours that you've gone through, and you're now at a plateau where you can say “Bring it on”.
So having said that—and I think this is the real crux of the issue here—what is better for the consumer, competition or a form of regulations? I'm going to ask each one of you individually if you want to touch on that.