You've no doubt seen, as I have, that a number of studies conducted by various groups refer, in some cases, to a fiscal return of 200% for every dollar invested by governments. In other cases, they say that every dollar invested, directly or indirectly, in a cultural business can generate $3.20 worth of economic activity. In some cases, we have a multiplier effect of 8.5. Everything depends on the way the calculation is done.
There is definitely an undeniable economic impact. That's mainly because investment in the arts and culture contributes to making the lives of Canadians more complete. Cities are more vibrant, more interesting, more attractive, and we can attract more investment. Businesses choose to set up in a dynamic city where something is going on, where choices are available to us, where we have good schools, good universities and an active cultural life, where, every evening, we have the choice to read a book, to go see a movie or a play, or to go to a museum.
That's how investment in culture should be seen. When governments invest, the private sector invests. We have proof of that in Toronto. That city is dazzling proof of what governments and the private sector can do when they invest hand in hand in arts and culture.