Can I pick up on one thing? This idea that when Canadian companies generate income globally there is no tax paid on it is not quite accurate, because when a Canadian business repatriates that income to Canada you get a dividend cheque—you, as a Canadian. Employees get dividend cheques. They get it in their RRSPs. So the average Canadian gets a larger dividend cheque and the taxes are levied against the higher dividend cheque. Therefore it's not clear what the net impact is on tax revenue.
On June 14th, 2007. See this statement in context.