Mr. Chairman, that decline of over $100 million is forecast for the current and the next three fiscal years. If I look ahead after this current year, the next three years, then we are right now forecasting about $100 million decline in the formula.
We are anticipating most of that will come from anticipated reduced spending on the part of Canada and the provinces. That is based on the Conference Board of Canada forecast of our economic future. These are very much forecasts on what is happening in Canada and how it may impact. That is the biggest adjustment.
Second is we also have some ongoing concerns with regard to population numbers and differences on Stats Canada's estimates. We have included that factor in as well. We will get Stats Canada population numbers, which make a big difference in our formula. We will hopefully get those next summer. At this point, I cannot really predict it.
Essentially, to answer in layman's terms, what is happening is spending is projected to decrease across Canada by all governments, all consumers. That will have an accumulated effect of about $100 million over the next three years.