Mr. Paton, you said that the research and development tax credit is needed and important. At the moment, in order to take advantage of non-refundable tax credits for research and development, a company has to make a profit. As many manufacturing companies are losing money, they cannot take advantage of the opportunity at the moment.
Would it be better to have refundable tax credits? A company doing research and development would be able to claim refundable tax credits even if it was losing money. That would be useful.