Madam Speaker, I thank my hon. colleague for the information. C.D. Howe has done a recent study on this issue and has come up with statistics. I cannot give him the exact point right now, but if he would like I could find it for him. The bottom line is that the imbalance is huge. The American creme de la creme are simply not coming up to Canada. The best and brightest of Canadians are going down south.
The number one reason has been repeated time and time again. Taxes are far too high. A working family of two in the United States after taxes earns 44% more than a Canadian couple in the same situation. When we speak to Canadian youth who have gone down south they say they would much prefer to live in Canada. They love Canada, but how can Canada compete when they are earning 44% more in the United States? It is not only money. They have opportunities to be the best they can become.
Speaking professionally from a medical point of view, the ability to practise medicine and engage in other professional opportunities in the United States is far greater because of investment in research and development.
There are some enormous opportunities for Canada to do some very innovative things. Perhaps there could be an extension on RRSPs over and beyond what we have now. RRSP moneys could be obligated to be invested into Canadian companies on Canadian shore, resulting in Canadian companies having money to be able to work and having capital to invest.