Finance committee  No specific study per se was undertaken. What I would note is that companies have the ability to either use the proxy amount or claim their actual overhead expenditures. While the proxy amount is being gradually reduced, companies retain the option of tracking actual expenses a

Finance committee  Certainly we've seen the preponderance of R and D claimants using the proxy method to an extent that might suggest it is overly generous.

Finance committee  There is no specific data that I can share on that, no.

Finance committee  It's important to realize that with the changes that are being proposed regarding the SR and ED tax incentive overall, there's a spending side as well. Budget 2012 sets out $1.1 billion in new spending for R and D and also makes available $500 million for venture capital. It's

Finance committee  The program spending is set out in budget 2012. I'm not as familiar with the process or how it works through its implementation.

Finance committee  I can certainly give you a rundown of some of the programs that will be—

Finance committee  Absolutely. Let me go through some of them. We have—

Finance committee  It sets aside $500 million for venture capital. Those funds have not been allocated yet, but work is being done on the implementation of those funds. There's $400 million to increase private sector investment in early stage risk capital, and $100 million for the Business Developm

Finance committee  Sure. The Atlantic investment tax credit is available for activities in the Atlantic provinces. This particular measure, the phase-out as it applies to oil and gas and mining, represents further action by the government with respect to the G-20 commitment to phase out inefficient

Finance committee  The AITC has only been available in those Atlantic provinces, and it is being removed in those provinces.

Finance committee  It was a measure introduced for the benefit of the Atlantic provinces, yes.

Finance committee  It's fair to say that the phase-out will affect oil and gas and mining operations in the Atlantic provinces. What we've seen over recent years is that activity levels are very strong, very robust across Canada in these industries, including in the Atlantic region. You can look at

Finance committee  The legislative history of the AITC is fairly long. I'm not sure of the conditions when it was originally put in place.

Finance committee  The measure will apply to those active in the Atlantic region. We generally don't provide the exact number of taxpayers affected by a particular measure.

Finance committee  It would only affect the equipment that might be purchased to be used in exploration, so there would be some tangential impact on that. At the same time, other measures in place to support exploration would include the extension of the mineral exploration tax credit, for example.