Now you're asking for my position. Clearly, I have never been a fan of the efficiencies defence. I guess I've held that opinion for a long time. I was a junior lawyer on the propane case way back in the day. I have fairly strong views on that.
Not everyone agrees with me. I think you will find that it is an extremely divisive issue between the different sides in the competition. I believe, however, that it's not my view that should prevail—although I will forcefully make the arguments that I can. It really has to be a decision that's made on the basis of what values we want to promote.
Right now the way competition law is structured and the way it has been interpreted, which I think is the most important thing because none of this is really written in the act that way, has the effect of really putting a lot of emphasis on efficiency gains and, particularly, puts the burden on the commissioner in terms of providing quantification of anti-competitive effects. The way that the efficiencies defence has been applied, it has become a trump card. I think that really needs to be revisited.
I think everyone agrees that the efficiencies defence has gone to a place it shouldn't be, but there is profound disagreement on whether we abandon it completely, even though we are—you are correct—the only jurisdiction in the world with a developed economy that has this provision.