That, of course, is a very good question.
In terms of private foundations, it is easy. I think the simplest way, and in fact there is one, is to impose additional obligations on private foundations in the charitable sector. Right now, we cannot really say that these foundations are charities because they do not spend more than they make. As a result, the initial capital is always intact. That is true for most foundations. Studies show that they raise about 4% each year as a charity, and that covers their operating expenses.
Overall, Canadian private foundations are probably designed to be permanent. That is the crux of the problem. We must support private foundations and charitable work, but we must ensure that it is good for Canadians.
In my view, the simplest way to correct the situation is to increase the charity rate every year. Right now, the rate is 3.5%. In the U.S., it is 5%. Studies show that it could be easily set at 8%. An amount of $25 billion is tied up in private foundations. A lot of money is therefore reinvested every year.
Do I have time to answer the question about multinationals?