Mr. Speaker, my hon. colleague from across the way talked about the Canadian corporate tax rates being lower than those in the U.S. I do not see a lot of companies lining up to come to Canada because of that. There are other things going on.
I should also point out an example of something else that is going on. Quite often I find that Canadian managers of R and D cannot get the large global corporations, often headquartered in the United States, to do their R and D in Canada. The proposals are just not as good as what they get from other countries where some of the subsidies are bigger.
An example of what is going on is that, in budget 2012, the government decided that it would reduce the scientific research and experimental development tax credit, and replace that with a system of direct grants.
We heard in the finance committee a couple of weeks ago that there is a delay. The cuts in SR and ED are already occurring, but replacement by the grants has been slow to happen. Therefore, a witness in committee told us that something like $300 million in investment has not been made. That amounts to something like 2,000 ongoing jobs.
I would like to ask my colleague to comment on that.