There are a couple of things.
One is that there is a problem of a race to the bottom in corporate tax rates, and this is a global problem. Canada is actually contributing to that problem. When I was in Washington last year, congressmen there were complaining that Canada is becoming a tax haven.
We found that the lower corporate tax rates actually don't work that well in terms of stimulating the economy. They haven't helped much, but they contribute to that global problem of lowering tax rates and then creating more and more competition between countries. That's one thing. You don't want to get too out of line with the overall rates, and that creates a problem, as you point out.
I think ultimately we need a global solution. There is a lot more that Canada could do by way of enforcement, but ultimately we need something like the unitary tax that Mr. Murphy talked about as a way to fairly tax corporations on a global basis and apportion their profits according to their economic activity in different countries. This is already done in the U.S. on a state level; it could be applied globally, and that would be the system we need to aim for.