Thank you. We do worry about innovation going offshore, if you will, into non-taxed regimes, though I think there's now more pressure around the world to try to be able to deal with that. We're seeing that in Europe in a very big way.
We think there's a lot that could be done. For example, if I just take one of the sectors—health care—this is an area where we think there are a lot of innovators, a lot of people with terrific ideas who would like to be able to build businesses. We would argue that the regulatory barriers are bigger than the tax barriers, if you will, to be able to build things.
We're blessed in Canada with our health care system, which allows us to collect an incredible amount of information on people. There are only two other jurisdictions in the world that would even have the possibility to do what we do, which are Australia and the U.K. There are very restrictive regulations on how you can use that information, some for good reasons, I think some not for good reasons.
One of the things we're keen on is if we can make it easier for people to.... People will do more innovation in Canada from a regulatory point of view if it's easier, not so much from a tax point of view, if you will. For sure, tax is a factor to think about, but we think the regulatory challenges are bigger issues.
To your point specifically on tax, we don't think people should be able to go offshore and get different tax rates. There has to be some comprehensive view. In the digital world, it's a lot easier to be able to do that, so I think we have to make sure we're competitive in that. It's not that there isn't such a huge gap between us and other places. I guess I'm saying that to help get even more activity going, I think the regulatory lever may be an even bigger one.
There are some things on IP, as we mentioned in the report, that don't get the same benefit as plant and equipment. They have longer depreciation rates, and I don't think that's a fair process, given what people will be investing in over time. So there may be some differences on that.