I think we have to look at it, because what's happened is that the ideas economy works on absolute advantage, not comparative advantage. In comparative advantage, it's always relative, and in absolute advantage, you can be the owner ten out of ten times—the landowner or the property owner.
The U.S. and other countries are becoming what is called “mercantilist” in their approaches, and they became mercantilist in tax boxes with the U.S. Tax Reform Act. With a stroke of the pen, the IP is going to leave Canada to a lower tax jurisdiction.
If they can move that quickly, I think you do have to do it. I'm never one who says, ”Just lower taxes, because that's our answer”, but that's a case when it can move things, and it's mercantilist behaviour by our economic competitors. I think that you have to meet what they've done. I know many companies that are moving their IP because it's at 12% or 13% for an IP box. You just do the math, and then the board says to do it.
I think we want to keep it here, but I hesitate to encourage tax strategies, because it's not a cut-taxes world in these games; it's an appropriation world. However, in this case, I think you have to meet the market.