Mr. Speaker, my question for the minister is related to Canada's venture capital industry.
A key to commercialization is access to early stage investment and venture capital. Some countries are creating the capacity through their tax system and direct government investment to attract venture capital investment. Israel in particular is focusing on the clean tech electric engine, electric cars, the jobs of the future, and the green economy of the future. In Canada the reality is that the venture capital industry is struggling. It faces a crisis. If we do not get this right there is going to be a dearth of discovery 10 years, 15 years out.
Why has the government not put in this budget some of the recommendations of the Canadian venture capital industry to attract more venture capital to Canada's technology entrepreneurs and to help create the jobs of tomorrow? Since they were not in the budget, does the minister have some ideas perhaps on tax reform policies to attract more venture capital? Perhaps one idea would be eliminating the capital gains tax on early stage investment.
I am disappointed that the government did not incorporate these ideas into the budget, but I would appreciate the minister's input directly for the House to consider his ideas.