Our third message is that we are opposed to the rule changes that benefit foreign entrants but harm domestic companies. Such an approach is not good public policy or in the best interests of Canada or Canadians. Therefore, it would be unfair and discriminatory to allow a foreign company to establish a new business in Canada or to acquire an existing telecommunications company with a market share of up to 10%, as proposed by the Competition Policy Review Panel. It would be ironic to provide advantages to foreign competitors while restricting the ability of Canadian companies to access foreign capital.
Finally, we would like to address an increasingly harmful level of red tape, regulation, and tax that threatens to undermine many of the government's objectives for the digital economy.
On June 1, Shaw and other parties will appear before the Federal Court of Appeal, because the CRTC wants the jurisdiction to regulate and tax ISPs. In September, we will return to the Federal Court of Appeal, because the CRTC wants to create a new copyright over broadcast signals. The CRTC proposes a regime that will allow broadcasters to remove their signals and black out U.S. programming unless distributors agree to impose another fee on their customers. These taxes are in addition to the new 1.5% levy on cable revenues for the local programming improvement fund, the required 5% revenue contribution to Canadian content, and several other fees paid by our customers to subsidize broadcasters and producers.
Currently, Shaw customers pay over $140 million dollars a year as a result of indirect CRTC taxes. This is money that is not reinvested to deploy new technologies, improve Internet speed, enhance customer service, or extend our broadband reach. The CRTC taxation and subsidy regime damages productivity and stifles innovation. This is inconsistent with the government's stated policy of stimulating economic recovery.
Regulatory taxes and subsidies are also inconsistent with the bold investment-based approach advocated by the government and currently being studied by this committee. We ask this committee to approach changes to the foreign investment restriction in a manner that is competitively neutral for all telecommunications and broadcasting distribution companies. Public policy for the elimination of foreign investment restrictions and the elimination of red tape and taxes should not pick winners and losers. It should provide a level playing field and a new climate for increased investment and productivity to strengthen Canada's economy.
We thank the committee, and we look forward to answering your questions.