That is another good question. You are quite right. Weak productivity in Canada is decreasing our potential growth rate, the wealth of Canadians and both federal and provincial budgetary revenues. The question is knowing how to increase the growth rate for each sector in Canada. One very important aspect is our trade policy, particularly with regard to emerging markets. New markets allow our companies to increase their revenue margins. This constitutes increased productivity. Our companies can achieve economies of scale.
This must be accompanied by other marketing initiatives, ones that have a ripple effect, as well as research and development. The bank believes that R & D initiatives need to be pursued in the primary and university sectors, and by government. Finally, the level of domestic competition has long been an issue in Canada. If we can increase domestic competition, companies will increase their productivity. We feel this is also essential.