Mr. Chair, we have tax collection agreements with the provinces. It remains to be seen exactly how income splitting will be designed, how rich this program will be, what the parameters will be. There will be, as other panellists have talked about, an impact. This impact will be that the provinces will find themselves with less revenue, I guess. The provinces will have a choice on how to fill the gap, but from the point of view of sustainability, if there is a gap now—we think the gap at the provincial level is about two percentage points overall—this would add to that gap in the way that the reduction in the escalator to the Canada health transfer added to the fiscal gap of the provinces.
On September 29th, 2014. See this statement in context.