Thank you.
On the change to the labour-sponsored venture capital tax credit, the CVCA, representing the industry across Canada and also representing the companies that have received funding and investment, has come out very clearly against this change. The CVCA doesn't represent only labour-sponsored venture capital funds; it represents also venture capital funds like Round13 Capital, with John Eckert and Bruce Croxon, and all of these funds that are private sector funds that invest in innovation.
Given the challenges faced by the venture capital industry in Canada right now, is it not terrible timing to actually withdraw funding at a time when the industry's already struggling? What could be the effects of these changes on biotech and IT discovery five years, ten years, fifteen years out?