With respect to the SR and ED program, our view is that it's been a good program to support innovation. But in times of economic downturn, especially for a company like Bombardier, which is extremely export-oriented, with 93% of its revenue deriving from export markets, and which, for all intents and purposes, is not really generating profits here in Canada, we're not able to benefit from the program in years when we're not making profits, as you know.... In the past, we have made it known that our view is that if you want to make this program really beneficial, you have to man the program in a way that companies can monetize and use the money to really support innovation, by making it partially refundable, for instance, like it is in certain jurisdictions such as the province of Quebec.
But we also understand the fiscal constraints, and there have been signals given in the past of the savings you can achieve from the changes announced recently to the SR and ED program. There might be a willingness to do more direct forms of support. The Emerson report contains a recommendation for a new technology demonstrator program. One of the challenges of the review process was to come up with recommendations that are fiscally neutral, and we think this recommendation is very affordable and would not in principle entail new funds from the government but the reallocation of existing funds, for instance from the SADI program, to this new program and also from the SR and ED savings.
We look forward to working closely with the government as the government considers implementing this recommendation.