Stepping back, from day one we have seen that the mining and metals industry is an important industry for Canada. Obviously, it's an industry that, even in the time we've been in office, has gone through some challenging periods and is now seeing some more success.
The mining exploration tax credit in particular helps junior exploration companies with their investments. It helps them to raise the capital they need to succeed, which we see as critically important for projects that in many cases are quite risky, without assurance of what the eventual outcome will be. Many good, well-paying jobs are created through this industry, not least in the north, which we recognize.
One of the things that I found in the course of doing this job over the last few years is that each year, as had been the case in previous years, before we got into office, there was a one-year extension of this mining exploration tax credit. From the standpoint of those businesses making these investments, that leaves them with a planning horizon that's not as effective as it could be. It was in that context that we looked at the importance of the sector and the jobs, and realized it would be a more effective tax credit if people had a longer time horizon. That was how we got to the conclusion to make it five years.