Okay. I think the proposal that was brewing in Parliament to make contributions to RESPs tax-deductible was a bad one from the perspective of tax policy.
The reason is that the deductions would be tax-deductible, but typically the withdrawals from an RESP go into the hands of the student, are taxable in the hands of the student, and typically bear little or no tax. So there would be no tax going in and no tax coming out.
This is contrary to consumption tax principles. It is something that would have been very tilted toward high-income families in terms of what we know about how RESP contributions are done now. And they would have become even more relatively attractive to high-income earners if they were tax-deductible. So I think that was not a good way to proceed, and I'm glad the political process is not proceeding with that.