Second, before concluding that Canada is poorly served, I invite you to reread the 2008 CRTC Communications Monitoring Report, the title of which no longer includes the words “radio-television and telecommunications”, but rather “communications”. It can be seen in that report that Canada is not at the head of the class in certain respects, but that it is doing very well in others. So before concluding that Canada is really very bad in the area of telecommunications, I suggest you draw some major distinctions.
Third, the telecommunications ground rules have changed. It's true that we started out with a monopoly, but, as you know, there has been a frequency auction, and new players will be appearing in the market—they are appearing already, whether they are being challenged or not. This will change the landscape. We should perhaps wait to see how things change before changing anything else.
Fourth, I would like to address the issue of foreign capital percentages. When we listen to you from Montreal, when the telecommunications people appear before you, I would be very pleased to hear you ask a number of questions about the percentage of foreign capital they already have in their businesses. I bet you they haven't yet filled up on foreign capital, as provided by the CRTC measures, or in the manner in which they are permitted, that is 20% and 33% of the holding companies. Please ask them that question because we can't get access to those answers. Make sure they answer you.
Lastly, with regard to having to cut prices for consumers, I ask you to look at the profit margins of those businesses. In 2008, margins reached 46% for their wireless telephone operations.
First, they're seeking foreign capital. And yet, I imagine that, with 46% profit margins, they must have a little money in the bank and perhaps some money to invest. So do they really need foreign capital?
Second, why isn't there any return to consumers if those profit margins are so high? In my environment, I'm not used to living with businesses that have 46% profit margins because they don't exist.
Lastly, for new entrants, this no doubt means that, for Canadian businesses that have not yet thought about it, there's a lot of money to be made in this industry and it would be good to invest in it.