Sure.
Let me give you a couple of topside observations.
You know, you talked a lot about working around the world, seeing businesses around the world. When you came back to Canada, you saw that the regime was complicated in Canada in terms of a business operating in Canada that wants to operate around the world. One thing in terms of the tax side of that is, I would refer you back to the international tax panel that was created by the Department of Finance in 2008. Peter Godsoe, former chair of the Bank of Nova Scotia, was the chair of that group, and I was the vice-chair of the group. That panel had a lot of recommendations that we believe would have led to a super regime for the operation of entities in Canada that wanted to operate around the world. Some of those recommendations have been implemented; a number of them have not. I think that those recommendations from that 2008 report are all valid today in terms of simplifying the operation of entities that are based in Canada that want to operate abroad.
The second point I would make in terms of just simply compliance with Canada, interaction with the government in Canada, which is really back to the reporting in terms of XBRL, this standardized business reporting would be a mechanism through which entities could provide their information to the government, and that information could be used for many purposes by the government. It would be much more efficient and be much more effective. This is a recommendation that I know that this committee has endorsed in the past, and we would encourage you to recommend it again. It has been implemented in other countries, for example, Australia, with some good savings.
So those are two thoughts that I would give back to you on your observations.