If I may, Nick, I'll jump in on this one.
I appreciate the opportunity to clarify something that we perhaps weren't clear about. In fact, what we are saying is that, de facto, the fall budget that we're about to receive is the budget that's for the upcoming fiscal year, not the one that we're already in.
If it's treated as the budget for the fiscal year we are already in, I completely agree with what you've said about the problem that creates. We are already most of the way through the fiscal year. The commitments have been made, and it is much too late to be presenting a budget for the 2026-27 fiscal year when you're this late in 2026.
I'll just recap and say that we are treating the budget that's going to happen in November as the budget for the upcoming fiscal year that will begin on April 1 of next year. That's a good fiscal accountability cycle. It is inappropriate to call it a budget for the current fiscal year. That ought to have happened much before now.
