If you were to provide a refundable tax credit on the R and D side of the loan, it would be somewhere between $1.2 billion and $1.5 billion.
There are a number of companies that are caught in the existing system. There are many companies that are investing in R and D ahead of their profit curve. There are many companies that are simply, because of the economic situation right now, not in a profit position, and, although they continue to invest in R and D, cannot take advantage of the tax credit for that reason. There are a number of companies that are major investors in research and development in Canada that are subsidiaries of American companies that, because of the treatment of consolidated revenue in the American tax law, cannot take advantage of this tax credit either.
The tax credit system in Quebec is a very good example of a tax credit system that works well under those conditions. The federal tax system, because of the lack of refundability, is I think a disincentive for investment on the part of those companies.