It is definitely the highest in the developed world. We find ourselves in the situation where the last time I looked, while Canadian airport infrastructure and air networks are ranked among the best and safest in the world and the most developed, our tax regime is seen as 139th out of 142 developed countries. So it's considered to be quite regressive.
It stems a little bit from a model that was adopted as far back as 1992, where the Government of Canada took the position that the air traffic sector is pay-as-you-go. In other words it's a user-pay system, and the users will pay. The government, in fact, derives positive cash flow from the system in the form of several charges, with the biggest that affects the airports being airport rents, which amount to about $300 million annually.
Just to cite Montreal as an example, about 20% of our gross revenue goes in one form or another—it comes right off the top—to the Government of Canada in the form of rent, and to the City of Montreal in the form of very high property taxes for virtually no value in exchange.
So it's a direct tax to the users of the airport, and it's quite regressive.