Our corporate taxes are going down in Canada. The American government has a large challenge with respect to a very large deficit. They'll have to address that in some way, I'm sure, going forward.
In 2007, we urged the provinces to reduce their corporate tax rates to 10%. When we became the government, the corporate tax rate federally was slightly in excess of 22%. We will have it down to 15% by 2012. We urged the provinces to get to 10% with their taxes by 2012 so that we would have a combined corporate tax rate in Canada of 25%, which is a tremendous way to brand the country as a relatively low-corporate-tax jurisdiction.
I'm thrilled, frankly, that the majority of the provinces are going in that direction, including the Province of Ontario, which intends to get to 10% by 2013. Alberta is already there, Manitoba is going in that direction, Saskatchewan is going in that direction, and so is New Brunswick, and so is British Columbia. Some of the other provinces as well have been reducing their corporate taxes.
We're going to have a good part of Canada with a 25% combined federal and provincial corporate tax rate by 2012 or 2013. It's tremendous branding. As you know, Tim Hortons decided to come home to Canada and bring their corporate head office back here because of the reduction in the corporate tax rates. I'm hearing very good stories from some of the manufacturers about wanting to do more here because they can see the stability and the predictability of corporate taxes in this country that are relatively low in the near term.