Finance committee  Yes.

Finance committee  Yes.

Finance committee  Just as Mr. Jean mentioned an incentive for the oil sands, it is a deferral mechanism. In our view, it will enable us to spend more money in these critical years or 2012 to 2014, rather than extending those same expenditures out over five years.

Finance committee  On that specific item?

Finance committee  We did not.

Finance committee  I did? Brian Jean has one as well.

Finance committee  Every dollar that is spent paying taxes obviously isn't available for other uses, period. And like every other company, we have policies about what is available for distribution and what is spent elsewhere. In my experience as a tax partner for 24 years with a big accounting firm, before coming to Bell five years ago, I've not seen such a reduction in tax rates.

Finance committee  We can do more. That's where we believe the spectrum auction that's coming up will make a significant difference. I don't understand spectrum more than many people in this room do, I suspect, but it was best explained to me that with 700 spectrum, if you have one transmission pole, it can go out with the little lines for five kilometres, while the 2500 spectrum can only go out one kilometre.

Finance committee  In 2010 we spent $1.4 billion to expand our wireline network and $300 million to expand our wireless network. Like every company, we generate a bunch of money and we then have commitments to spend that money, for example, to pay salaries and pensions. In 2009 we paid an extra $750 million to fund the deficit in Bell's pension plan, and paid another $500 million last year.

Finance committee  What that means is that when we save money, because our tax bill goes down, we have more cash to expand. The analogy would be the following. Let's assume it costs us $100 million to run a high-speed rail line between Toronto and Montreal—albeit, it obviously costs significantly more than that.

Finance committee  Good morning, members of the committee. I'm Wayne Tunney, senior vice-president, taxation, at BCE and Bell Canada. Thank you for this opportunity to present Bell's views on what the Government of Canada can do to address the financial and economic well-being of Canada, as part of the next federal budget and, indeed, as part of important public policy decisions.