Basically, there is a $663 million reduction in federal money for the SR&ED tax credit. There is an injection of $333 million in new direct funding, which will be available to private businesses.
There have been other announcements. For example, the granting councils have received new funding. The Canada Foundation for Innovation has received some as well. However, private businesses will not have access to that money. So those aspects cannot be compared.
Thus far, $633 million will be withdrawn and $333 million reinjected annually. That is a ratio of two to one. Will other measures eventually be announced? I do not know and we cannot really rely on that. What we are also hearing from our members—and if there is one criticism that should be made it is this—is that we cannot base our future investments on what we do not know. What we do know is that SR&ED will be reduced. We do not know whether there will be new types of direct sectoral investment.