When we give up taxing profits earned, particularly in Barbados, and we are talking about $800 million, there are no losses in Canada. That amount is not being taxed in Canada. Therefore, we cannot even talk about reduced revenues for Canada's Treasury.
On the other hand, Canadian jurisdictional sovereignty means that Canada has the power, through legislation, to impose the tax rate it decides upon. By not taxing profits earned abroad, particularly in a country with low tax rates, Canada is giving up its jurisdiction and handing it over to another entity. We cannot allow this to happen, because it makes no sense.