Well, you asked a very broad question and completed it with a question about how we best tackle the issues of economic and societal benefit through whatever means. I have my own views about the combination of factors and the combination of investments that would help do that.
There's absolutely no doubt in my mind that investing in science is absolutely crucial and that Canada has a real opportunity. We have invested very heavily. We've reached the highest position in the G8 in terms of per capita investments in university research. It's very important that this capacity that is being built up is maintained and built upon and not just sustained, that we take advantage of it and move further. We've brought really highly qualified people into the country through a number of measures. We've invested in infrastructure. The overall capacity is significantly greater now than it was in the late 1990s. That is an opportunity to take advantage of, to continue to invest heavily for the future.
Now, the other side of it is that, of course, that's not everything. Investing in knowledge—knowledge generation—is only a part of the equation. You need to think about industrial innovation, the strength of the industrial side of your economy, and how best to get that on an even keel and to create a competitive advantage. That is more difficult. It's a combination of things such as reduced taxes, support for R and D tax credits, all of the measures that this country and others have taken, but improved. For example, I think that in the SR and ED tax credits one can have tax credits that are a positive in the sense that they might reflect an increased investment in university-industry collaborations, for example, or there might be incremental credits that could be added to a company that invests more in R and D a year ahead.
There are certainly many things one can do. It's a difficult question, and not many countries have actually solved this problem. I agree with you that there are some measures that could be taken, and I agree with you on the primacy of investing in the science enterprise.