We know there's a significant prosperity gap between Canada and the U.S. There are lots of reasons for that, one of which has to do with innovation and R and D. Even though the Canadian government is one of the most generous in the developed world when it comes to subsidizing R and D, Canadians don't do as much as we would like. This is directly relevant here.
There are two points I want to make. The C.D. Howe Institute has a paper that looks at the tax effects, the implications, of doing innovation. At the Rotman School, we have the best MBA students in Canada. They come up with these great ideas and they want to do this new venture or that innovation. But because the capital gains tax is where it's at, they may be discouraged from doing this innovation within Canada. They may be encouraged to do other things, because the innovation and the profits and the capital gains that come with it are taxed at such a high rate.
Secondly—