I can see where you're going on that. There is a difference in Canada, where you have another layer of government with significant taxing power.
The way I see the scheme working would be that, at least initially, it would be a federally driven scheme. As to the personal tax credits, as works with other tax credits, there may be the provinces that participate and there may not be. I would envision, as an initial step, that this would be a federally driven scheme, hopefully with provinces participating because they would all benefit, but I could understand the federal government's stepping out first to provide that tax expenditure and have it apply nationally. I think it's important that it apply nationally. In fact, the small business marketplace really is national. Whether it be angel networks through venture capital companies or public financing, it's national, so it makes the most sense for this scheme to be national.
To your point, it could be stronger if there were provincial participation as well. It could function as a federal model, at least in an initial stage.