Finance committee  That sounds about right.

Finance committee  Canadians are well served by Canadian banks. About 99% of Canadians have a bank account, probably the highest percentage in the entire world.

Finance committee  Canadians are able to cash their cheques into their bank account and obtain their—

Finance committee  Yes, they can.

Finance committee  There are certain requirements, but those requirements are minimal.

Finance committee  No.

Finance committee  Maybe not having the right ID is one example.

Finance committee  I don't know. I can't comment on the financial dealings of our members.

Finance committee  It's what...?

Finance committee  I think that gets to our first recommendation around the need to have a comprehensive tax reform. The tax system that we have right now has been around for decades, and I think it needs to be updated to address questions around the net-zero transition, labour productivity and these sorts of things.

Finance committee  Thank you very much. Thank you for inviting the Canadian Bankers Association to appear this morning to participate in the committee's pre-budget consultations. As you said, my name is Alex Ciappara, and I am the head economist at the CBA. The CBA works on behalf of more than 60 domestic and foreign banks operating in Canada and their employees.