This is one of the big challenges. One of the things we'd like to do is to analyze the patterns that are happening in business right now, and we have to admit that over the last 20 years, business expenditures in R and D, where most of the intellectual property is generated, have been decreasing at an alarming rate. While the rest of the world has been increasing their investments in R and D, in terms of business investment in R and D in Canada, that has fallen. We're now at 1.54% of GDP, which explains some of the statistics that you've just highlighted.
We've had many studies that have looked at this in the past, and I think there needs to be a bit more action in terms of the SRED credits. This is a personal view; it's not the U15 view. We do a lot of SRED credits in terms of assistance and providing credits, whereas many other countries, like Germany, do direct investments in industry and assist them through direct programs to be more competitive globally.
I know that every government has looked at that, but there's been very little movement on the SRED credit program in recent years. I'm sure my other colleagues might have some other ideas on this also, Mr. Williams.