Canada distinguishes itself on being the developed country that invests the least in its own economy. Canada would be.... Let's say I take this 10% number. In Australia, for example, which would be a comparable country, it would be close to 50%. In the United States, which is one of the most developed successful economies, it's around 75%. We are very well below.
With regard to innovation and things like that, yes, we are a very innovative country, and it's well documented in things like this, but for every dollar we spend in R and D in Canada, Israel spends two dollars. Israel is a smaller economy. For every dollar we spend in Canada, the U.S. spends $40.
We are innovating in things like this, but we could do a lot more. With regard to potential solutions and things like this, I think we.... The last time I appeared in front of this committee was 40 years ago. Yes, it was 40 years ago. I was presenting in the name of the Canadian National Railways pension fund, where I worked at that time. The argument we were putting forth was that the10% limit on foreign investments by pension funds should be removed. Now I'm here arguing a bit the reverse of that.