Thank you, Mr. Chair.
Thank you to all the witnesses for being here.
My first questions are for Mr. Wudrick.
With your background, I'm sure you're well aware of the different red tape reduction measures in place at the federal level. Through reporting obligations via the Red Tape Reduction Act, the 2021 annual report showed that the regulatory burden on businesses increased in 2020 from 2019 by 4,606 new regulations.
Being a former small business owner, I know that trying to keep up with new regulations and establishing compliance plans can be incredibly costly and time-consuming. Do you believe that increasing the regulatory burden makes it more difficult for small and medium-sized businesses to operate and makes them less competitive, compared to other jurisdictions?