Look, we haven't been specific about individual regulations, etc. We've been more concerned about encouraging government to take stock of what it's doing from a regulatory point of view and, in fact, to take stock of what it's doing from a programmatic point of view as well. When you look across the lot, you see there are something like 50 different government programs focused on innovation. Sometimes you can have too much of a good thing, and maybe if there were fewer of them and they were better focused, you would have more impact. We're hoping that government will take on that challenge, clean house a bit, and align these things better with what needs to be done.
On the regulatory side, we're basically saying pretty much the same thing, which is to try to review...because some of these things, some forms of regulation, are necessary. Take, for instance.... I'm not suggesting this is necessary, but what I'm suggesting is to take a sector that you and I know a bit about, which is telecommunications, or banking.
Canada has today a set of rules around ownership structure in those sectors. The reason it does is that they're complicated sectors. They have roots in Canada as a relatively small country beside the largest economy in the world and a very globally preponderant culture that emanates from the United States. There's a whole host of factors that go into a public policy decision about whether or not a particular sector should have some kind of constraints on foreign ownership.
I think the public policy decision is more complicated. It requires a reflection on a set of factors that is broader than a relatively limited or focused one on this or on that. It requires a broader picture, because these are complicated issues.
The second thing, just continuing on a bit about whether it's in telecom or other things, is that it's important for Canada not to be too much of a boy scout. If as a country we think that America is wide open to foreign investment, that's just wrong. America is not. There are all kinds of hidden barriers that exist there. Again, I'm not suggesting that's wrong. I'm saying that it reflects the public policy choice. The Department of Defense in the United States plays a very important role in stimulating technological innovation in the United States, and it has for years.
It's not like the world is this completely free-trading and open place. Look at the Europeans. There are all kinds of hidden barriers. I won't name individual countries, but across the European Union there are a lot of similar kinds of issues.
As Canada thinks through issues like telecom or banking or other kinds of regulations that are there, yes, it's a much broader, more complicated thing that has to be thought through.