Thank you.
First of all, the desire to have a better corporate tax system in Canada, including lower rates, is an important structural point in the total tax policy of this country. It's the way we get a vibrant economy. It's the way we get foreign investment. Our investment in machinery and equipment and capital goods in Canada is substantially lower per worker than it is in the United States. We can't keep on with this and stay in the game.
But as for the issue with respect to tax treaties with tax havens or whatever, yes, we should have those agreements, provided that they're meaningful. Now, if you're dealing with a pure tax haven, a little islet in the Caribbean, the problem is that even if you make an agreement that they're going to exchange information, they don't have the mechanism themselves to get any decent information and therefore you're not going to be much further ahead. When you're dealing with countries like the Netherlands, Switzerland, and Barbados, etc., you're dealing with countries with well-established tax systems, and exchanging information and reconciling objectives can be achieved.