Thank you, Mr. Chair.
We've had the SR and ED tax credit for a long time. I think it's unfocused. I think there's a huge imbalance between large firms and small firms. It goes toward, unfortunately, rewarding more small firms that don't really do R and D at scale. I would say that reforming SR and ED would be an important aspect in terms of tax credits, because it's a big tax expenditure, at least $3 billion per year.
I think you have to be very surgical with respect to sectors. You need to focus on EVs and on critical minerals to spur investments. Accelerated initiatives on capital are very important. I would recommend that we continue this on an ongoing basis. Anything, really, that attracts capital is important. I think the issue there is being focused, as opposed to being broad-based.