Thank you, Deputy Minister.
Just to touch on that, you're absolutely right. When we have a 50% confidence level, to me—and I come from the Treasury Board Secretariat—that indicates we are in the early stage of a project. Then, as we get towards having more information, we get to that 80% confidence level.
In this instance, the only way we could get to an 80% confidence level was to put in place a very significant contingency. The deputy already spoke about that. We went from $2 billion up to $6.2 billion. That's a very significant contingency; you could very well ask why we need that kind of contingency, and it is for exactly the types of things that the deputy referred to.
Let's take foreign exchange. I asked my team to run the numbers. I'm going to use my notes here. For every cent increase in foreign exchange, there is about a $250-million impact on the costs for this particular project. You can imagine there's no way I can actually mitigate the risks of foreign exchange outside of contingency, because it's not something I can influence.
Those are the types of things you see within the contingency, and about 40% of our contingency has been notionally allocated towards foreign exchange rates, but arguably the entire contingency there is a buffer for these kinds of impacts.