Government Operations committee  Thank you. I am a director in the Economic Development and Corporate Finance Branch at Finance Canada. I am here today to speak to the review of corporate assets that was first announced in the 2008 fall update and discussed further in Budget 2009. The Corporate Asset Managemen

Government Operations committee  In the update, a line was included that combined both projections. For 2009-10, it was $2.3 billion. The projections included in the update were based on or used to provide revenue projections for budget 2009, so it built on that. Based on the results of the strategic review, the

Government Operations committee  Right. I'll go back to where I was with the update, with the number of $2.3 billion. The budget built on that, realizing savings of about $350 million in 2009, so the expected revenue from a corporate asset review for 2009-10 is about $2 billion.

Government Operations committee  That's a multi-year projection that was included in the economic update. I believe a five-year time horizon is provided.

Government Operations committee  No, I think the number you're looking at for the $10 billion is both cumulative for the corporate asset review and for forward projections on the strategic review, taking into account the savings that would be built in each year based on the results of the review.

Government Operations committee  You're quite correct in saying that the fall economic update included projections both from the strategic review exercise and the corporate asset review.

Government Operations committee  Sure, that's fine. The amount for revenues from corporate asset reviews for 2009-10 is $2 billion.

Government Operations committee  That would be the anticipated revenues as a result of the corporate asset review, which looks at both assets defined as crown corporations as well as real property.

Government Operations committee  The question you also posed in terms of timing--

Government Operations committee  I don't think I can be more precise than it being the first quarter of the fiscal year. The process we have initiated for the corporate asset review really just started in the last couple of weeks. We have started to talk to departments to make them aware of the objectives of t

Government Operations committee  I don't think that is something I have enough expertise to comment on, not having been involved in that process at all. Maybe my Treasury Board colleagues are able to comment on the sale of real property.

Government Operations committee  Yes, I think that's an accurate statement. The corporate asset review starts from the premise that the government's assets should be reviewed; that the management of those assets should be brought up to date; that there may be opportunities to improve the management of those; tha

Government Operations committee  The number in the update, you're right, is $4.3 billion for 2009-2010.

Government Operations committee  The document in front of you probably outlines, at least two lines above that, the source.

Government Operations committee  Right. That's both savings from the way the government manages its operations—