Thank you to all of you. I'm very happy to be here in this province. I love the rain. It's better than the snow we're having in Winnipeg.
I want to start with a comment to Mr. Hayes. The whole issue of investment is one that our committee really has to tackle. We're all searching for ways to ensure investment by Canadians in Canada that will make our Canadian businesses grow. So far, investment policy seems to be characterized by creating tax havens offshore, so our money goes there. Through our own pension money we invest in companies in Europe and other places, which helps those countries. We create loopholes for corporations to invest in income trusts without paying taxes. None of those things are helping us at all.
I think what you're offering is an avenue to reverse that. It's small in comparison to the big investment picture, but it points the way to the future. I just want you to talk a bit about the payoff. You talk about it costing $20 million a year. Clearly there are all kinds of benefits, long-term spin-offs for our economy. Can you describe them? Can you talk a bit about the whole investment scheme and what venture capital and growth funds can do in that context?