The Australian model is fascinating. The federal government removes the tax disincentive associated with selling an asset by a state government, as long as the money is reinvested in new infrastructure or rehabilitation of infrastructure. This is a way to take some of the stock of capital and use it to finance new infrastructure or rehabilitation of infrastructure. We think it's a very powerful model for unlocking some of the inherent value in the assets. It creates a new incentive and a new source of financing to allow the federal and the state governments to build the new infrastructure that is necessary. Something similar to that structure of government could operate in a Canadian context, again having adjusted for all the institutional differences.
On October 8th, 2014. See this statement in context.