I think it's just part of a wide range of policies that are making Canada less competitive. I think we're already seeing it show up in the investment numbers, for example. There is a semi-annual survey that was released this morning on business investment in the U.S. It's calling for a 10% increase. The same survey six months ago in the U.S. called for a 2.7% increase. That's a radical upgrade of business investment plans in a very short period.
Meanwhile, according to an annual survey conducted by my former colleagues at Statistics Canada, Canada is headed for a fourth consecutive decline in business investment. That gap between 10% in the U.S. and a small decline in Canada is probably the most distinctive difference between the two countries that I can point to these days, and probably has the most risks for Canada in the long term.
I would be quite concerned about it.