Thank you.
Welcome, Minister.
Minister, we heard from the Canadian Manufacturers and Exporters when they appeared before the committee. They said, “In terms of taxation of large companies, the negative impact of the 5% reduction in SR and ED exceeds by far all of the benefits that resulted from the corporate income tax cuts...since 2008”.
Given that Governor Carney with the Bank of Canada seems very concerned about our poor export performance and that Canada has lost 370,000 manufacturing jobs in the last seven years, is it wise to hike their effective tax rates so much at this tenuous time, as you said, in the fragile economy?