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.
