Mr. Speaker, a couple of weeks ago I had the opportunity to speak at a utilities forum in Washington, DC. Prior to my speech, there was an entire panel devoted to lamenting the regulatory state in the United States because of some of the issues that my colleagues brought up, including non-predictability, such as new regulations affecting capital investments, because it becomes a new determinant to capital investment. Also, there is the cost of not reviewing regulations on a regular basis, because there can actually be overlapping regulations which increase the compliance burden to industry.
I am wondering if my colleague could speak specifically to how this particular bill could actually provide a competitive advantage for foreign direct investment into this country, because we will have a predictable regulatory review system. As well, perhaps he could speak to how the ongoing review of regulations can actually provide a better economy, because we have a clearer system by which industry can see that regulations are reviewed for efficacy on an ongoing basis.