Thank you very much.
Thank you to all of you. I have seven minutes and there are eight witnesses. This is going to be rather difficult.
First, Mr. Lavoie, that you for your honest answers. It would have been easy for you to say that you were opposed to the increase in contributions for the pension plan, but in actual fact it is true that there will be more invested in premiums by individuals and companies. Ultimately, this will mean increased financial security for our retirees. And also, this money will be spent; in the medium or long term, it will come back to your members.
I will start with you. I have a specific question to ask you about the patent box, which in French is “le régime favorable au revenu de brevet”. There is no French term for it.
I understand the concept. There were debates in the past on innovation and research and development. You can understand my support for this type of thing.
According to one argument we heard, this could in theory be good for innovation, but it could also be a a tax avoidance mechanism. Often, people talk about innovation, but these can also be measures to counter what is being done in Ireland.
In Ireland there are favourable rates for intellectual property. It's not that the Irish have become extremely innovative overnight; in fact, companies the world over are using Ireland to lower their taxes.
Isn't there a risk that the debate on the patent box might branch off in that direction?