The simple point is that in taxable accounts the dividend tax credit mechanism, as it exists, achieves good integration between corporate and personal taxes. It is imperfectly achieved within the tax-exempts, where common shares are not entitled to the gross-up and tax credit mechanism. Redressing that, as we talked about, is a way of being more neutral with respect to the treatment of holdings within pension funds. Yes, it would cost a certain amount of money. The way, however, to fund that over time is to ensure that the credit paid out lines up with the tax collected by the upstream corporation.
On February 13th, 2007. See this statement in context.