You raised a question about what a comprehensive tax reform could look like. One element that could be included in that, which would be instructive, is what are the types of tax policies, both corporate and personal, that would be required to make Canada the leading choice for having a corporate head office?
What would be required to make an investor decide they want to move and put their head office in Toronto, Calgary, Vancouver, Montreal or any other jurisdiction in this country; and why aren't they choosing to do that now?
In the mining space, we've seen significant merger and acquisition activity over the last 15 years. What that has effectively resulted in is tantamount to a hollowing out of our corporate head offices. Taxation is a part of that. A strong openness to free trade is another part of it, and that's a bonus. How do you balance those things out?
Any holistic overview of Canada's tax system would be well served by rigorously holding up that question and trying to answer it as truthfully as we possibly could.