Thank you for that question. When you look at the quantum, you're quite right. With the income splitting, it's about $280 million in projected savings with the stock options, which we mentioned earlier subject to a conversation with Mr. Sorbara about public versus private. It looks to be about $560 million to $1 billion in potential savings. With the transfer pricing, it dwarfs both of those, with $7 billion to $8 billion in potential savings, dealing with the very simple premise that economic activity should be taxed where it occurs, which is not what's happening globally right now.
Partially, your answer is probably that the third and bigger item isn't completely within the control of the Canadian government alone. It's an international problem. There is a blueprint for dealing with this, a partial blueprint that this committee put together in October and that the government responded to in February in terms of the CRA's efforts to combat tax evasion.
To be fair, we support modernizing income splitting because, by and large, the bulk of that $280 million benefits lawyers, doctors, and accountants—like me, a lawyer, and the accountant beside me—and not the middle class. About 3% of that benefits them. By and large, it's a very small percentage of money that could be saved. These other items are much more significant.