Thank you for the question, Mr. McKay.
Your question relates to competitiveness. The government, in conducting tax policy, looks at fairness and competitiveness in all these policies, particularly with respect to income trusts. You're familiar with the issues there. We've talked a bit about fairness, probably not as much as perhaps we should, on the interest deductibility.
But to go to the competitiveness element of your question, which is there in terms of the proposed elimination of the withholding tax through a new, updated tax treaty with the United States, this will lower the cost of capital for Canadian business. The existence of a withholding tax on borrowing less than five years has raised the cost of capital for Canadian business.