I think I can, and forgive my arrogance. I read a ton on this.
I've come to the conclusion—I think Senior Deputy Governor Rogers, David Dodge and many others have too—that it's because we have too many protected industries. We don't even have free trade in Canada among the provinces. The IMF estimates that if we had genuine free trade between B.C. and Ontario, etc., it would be the equivalent of a 22% tariff reduction. That's massive in terms of the impact on GDP.
We've met the enemy and it's us. We've done it to ourselves. Our banking is protected. Our airlines are protected. The fees are twice as large. I mean, dairy is protected, as we all know, through supply management. We have many protected industries.
I'm as cynical about business as any progressive, and I'm not a progressive. I'm a fiscal conservative. I don't hide it. Corporations—