Mr. Chairman, I would like to just set it in context. This committee, quite appropriately, is very concerned about the impact of the dramatic appreciation of the Canadian dollar, which has certainly exacerbated the challenges so many Canadian businesses are facing. But we shouldn't be distracted by the dollar from the underlying issue, which is the competitiveness of Canadian business.
Faced with growing challenges from abroad and a dramatically changing international marketplace, one of the key elements of our ability to survive in Canada as a business community is the investment we make in innovation. When we look at the future, at our kids and what sorts of jobs they'll have, our future doesn't lie in competing with somebody from western China on the basis of who'll accept the lowest pay; it depends upon our ability to innovate and to constantly invest in new processes and new products that will ensure that we're competitive and that we're able to sustain high wages and good jobs in Canada.
This investment in research and development is absolutely critical to not only the survival of companies today but the growth of the Canadian economy as well. For so many businesses that can't benefit today because of the non-refundability of tax credits, it's going to be important both for their survival and growth in the future that we look at mechanisms that will enable them to make the investment. This could be an important step forward for it that will give major dividends to the Department of Finance when they look at our tax revenues in the future.