When it comes to the incentives for oil and gas exploration, we have to think of them as part of a broader package, about what an efficient, broader economy tax system would look like, where we want to encourage, across the entire economy, the kind of behaviour that isn't a slam dunk economically. We want to ensure that people invest in things that might be good for society as a whole and in many regards impossible for the government to say that it should be biotech or renewables, or the oil and gas sector.
We want to have these kinds of policies that are very similar to what you see in the oil and gas sector applied across the entire economy. That's called the cash flow tax, rather than the current flow-through share system with the Canadian exploration expense.
I'd encourage the committee to look into this model of a cash flow tax and think about how you could apply this across the entire economy.