Thank you, Chair.
I take the view that Canada can't dress itself up like a Boy Scout in short pants, and therefore we have to have a competitive tax regime.
I did want to ask a question with respect to the issue of the rise in the Canadian dollar. The Canadian dollar is hovering around 90¢ right now. In theory, that makes Canada's assets more expensive to outside purchasers, yet simultaneously we see a lot of Canadian industries being gobbled up by foreign interests. The steel sector is pretty well gone. The beer sectors are all gone. Income trusts are on their way. You have mining sectors, and there are a lot of articles in the business press about the “hollowing out” of corporate Canada, which will challenge our economic sovereignty.
In economic theory, this seems to be counter-intuitive.