If I might, I want to turn to the impact of this on business investment, because there's been some concern, and you anticipated where I was going. Again, quoting from the report, it says:
However, capital gains taxes (and other business taxes, like the corporate income tax rate) have been reduced dramatically since the turn of the century. Yet business capital spending has declined substantially under these lower tax rates. Spending on tangible machinery and equipment by Canadian businesses averaged around 6% of Canadian GDP until 2000—when the capital gains inclusion rate was reduced from 75% to 50%.... Since then, machinery and equipment investment has declined steadily. Business spending on intangible innovation (such as R&D, computer software, etc.) has also stagnated: it nearly doubled as a share of GDP in the 1990s (when the inclusion rate was 75%), but has not grown since.
Have you seen any data, Mr. Lee, that suggests that increasing the capital gains inclusion rate will lead to a reduced business investment, or is the opposite the case?