The final piece is around what's known as the mineral exploration tax credit, or METC.
This is a policy that's been around for decades. It's designed to support junior mining companies. We talk a lot about the clean energy transition and the need to find, access, mine, refine and produce the minerals that are going to lead to our clean energy transition. This credit plays a critical role in that. The issue we have is that every year, it gets renewed for only one year. When you're talking about investors and creating certainty, this annual cycle of having to ask for the program to be renewed decreases that certainty. We suggest making the credit permanent or extending it for perhaps five years. That would increase certainty and make those investment decisions easier.
I'll wrap up by saying that these recommendations, as I mentioned, are aimed at fostering a more competitive, innovative and growth-friendly Canadian economy.
We urge policy-makers in the committee to give all Canadian companies conducting R and D in Canada equal access to the SR and ED program, including small public companies; to abandon the increase to the capital gains inclusion rate on Canadian investments; and to make the mineral exploration tax credit permanent.
Thanks for inviting me here today. I look forward to your questions.