Thank you, Mr. Chair.
Perhaps I will make a start. My colleagues might come in afterwards. follow me.
Again, I think it's the premise of the question. Aggressive taxpayers are certainly “voting” by coming in increasing numbers to make voluntary disclosures. They are disclosing their offshore assets. As I mentioned, that has roughly doubled.
Our revenue generated by audit is up more than 15%. In fact, the average dollar value of an audit has doubled. Again, I think that's a function of increased horsepower and better data.
It isn't the case that revenues are down or have failed to grow. They have grown. Taxpayers who are facing this are increasingly having to have recourse to the courts. I mentioned the doubling in the number of court cases. I think the fight has been taken to them.
Now, what's missing? Perhaps it's greater consequences. If you look at interest as being part of the consequence of a tax audit, when the interest rates were 10% or 14% and much more than the market returns, interest was probably a big part of the consequence of tax cheating and getting caught. Now, with the market exceeding the interest that we charge, maybe that deterrent value isn't there.