Thank you, Mrs. Stubbs. I'll touch on the regulatory issue first.
In our report from last year, it's very clear that the regulatory system is broken in Canada. We are not building things quickly enough. We are not giving investors certainty, which sends a signal to the world that investment is not to be guaranteed here in this country. I can tell you that, when CEOs are standing in front of their boards and asking for investment capital, the first question the board will ask is whether there's certainty and confidence that this investment will actually materialize. If a CEO can't guarantee that for their board, it's unlikely the board will get a final investment decision. They will scan the globe to see where there is certainty and where the returns are greater, and they will put their capital there. Unfortunately, the signal Canada is sending is that we can't give that certainty, so capital is going elsewhere.
In terms of some of the changes that were made in the Impact Assessment Act, we don't feel they went far enough. There's a whole host of issues, whether it's the concept of standing, the continued political risk associated with ministerial designation and decision, even after an extensive process....
I see, Mr. Chair, you're holding a red card.