It gives them less money to make investments in new product development or new technologies or training their employees.
One of the things we found in some of the analyses, which I think made a difference in our discussions with the finance minister's view of this, if not Finance Canada's, is that if you look at the amount that businesses across the country, especially manufacturers, have invested in new product development, R and D, machinery and equipment, and expansion in terms of construction activity, those investments have been very, very consistent over the past 30 years as a share of cashflow.
Anything that detracts from cashflow means you're automatically going to reduce the investments in the productive assets you need to be investing in, particularly now as companies need to retool to bring new products to market. I think that's the key thing here.