Perhaps you are right there, Mr. Chair.
In reply to Mr. Saxton, yes, the government has established the TFSAs, but that is not related in any way to venture capital. They are personal savings. But we have something that can serve both functions at once.
The first function was to help people to save. The second was to allow those savings to directly strengthen venture capital and development capital that provides specific help to regions that we want to develop economically, regions that are not always urban.
There are a number of ways to save. The RRSP, which has been around for a long time, is a way to save. With these funds, we had savings directly targeted to a current weakness in Canada, the level of venture capital. Among OECD countries, Canada is bringing up the rear in terms of venture capital.
I hope that the action plan will be a success. But it would have stood a better chance with the investments from the labour-sponsored funds. Unfortunately, the government rejected the offer.