Mr. Chairman, the impact that it would have would be entirely in our hands. We could move on a tax on net income and change nothing and just have it at the same rate. So it could be nothing or we could change it considerably. We would have a lot more flexibility to do things with it. We would have more flexibility in terms of the credit programs that we could put in place. It would give us more flexibility.

However, changing to a tax on income from our tax being a percentage of federal tax in itself does not change anything. We would have to make those decisions separately. The only difference is we would not be linked to the federal tax. If the federal government lowered their tax, in ours we would not necessarily lose revenue.

I think particularly as we move toward resource revenue sharing and so on and more of our own economy, then it is important to take that step. I should also mention that all of the provinces have gone to tax on income now. It is only the territories that have not. Thank you.