The tax rate on capital has an impact on investment. Investment helps drive economic growth. Economic growth creates jobs and it also creates income, which then creates fiscal capacity for governments. It's a holistic circle. At the same time, there has been criticism in the past that reductions in the corporate tax rate have not had the desired impact on investment, but the thing you need to consider when you think about that experience is the economic environment that was unfolding at the time. In point of fact, the question you need to ask is, how much weaker would investment have been if the corporate tax rates had actually not come down?
In point of fact, I do believe that reductions in corporate tax rates in the past have indeed had a positive impact on investment and growth. I've had an opportunity in my former role at the TD Bank to go from coast to coast talking to businesses. At Deloitte I now have the same sort of opportunity. I can tell you that past reductions in corporate and business tax rates have in fact ultimately led to higher investments in the economy.