Mr. Speaker, Canada's investment in business research and development support was concentrated in the scientific research and experimental development tax credit but we will be cutting that eventually by something like $500 million a year. If we look at the announced spending that is supposed to come from those cuts to the SR and ED tax credit, they do not add up anywhere near $500 million.
A lot of companies in my riding and elsewhere rely on that tax credit. These are the innovative companies that are creating jobs that use that tax credit to develop the innovations that make Canadian workers more productive.
I would ask my hon. colleague for Edmonton Centre whether his constituents in the oil and gas technology sector who heavily rely on the eligibility for capital expenditures for the scientific research and experimental tax credit would be happy. Why is he increasing taxes on his constituents in the oil and gas technology sector by cutting the tax credit for SR and ED?