Government Operations committee  I think at this stage our view is that with all of these options, for us to be able to look at one option or two options in isolation is not the right way to approach it. I think a package that balances the financial self-sustainability goal.... Once the committee has had a chance to recommend that, then we can give you our assessment on the ease or difficulty of implementation.

Government Operations committee  Much of that discussion we shared with the task force. Their report has very thoughtfully articulated the summarization of the complexity of the business challenges we face and some of the options they have laid out in the discussion paper. The challenges, as I mentioned in my opening remarks, are really large.

Government Operations committee  Over the last five years Canada Post has embarked on lots of changes. The spirit of those changes is twofold. Almost half of our focus is on growing revenues. For example, our parcel business has grown over the last five years by over $400 million. As I mentioned, with 1.6 billion mail pieces disappearing over the last decade, on average that accounts for a billion dollars of revenue lost.

Government Operations committee  Canada Post has always been both. It has components of its business that compete vigorously in the marketplace, such as our parcels business or our marketing mail business, and it has the traditional exclusive privilege of delivering mail, which unfortunately is less and less in our system.

Government Operations committee  Thank you, Mr. Chair. I'd like to thank the members of the committee for inviting us today. I have with me our chief financial officer, Mr. Wayne Cheeseman, and Madam Susan Margles, our vice-president of government relations and policy. I have a few remarks, and then we'll open it up for questions.