Thank you, Mr. Chair.
I see that there is a new kind of trade taking place around the world, namely, the selling of lists of users of tax havens. It could be profitable business to get into.
Mr. Deneault, you said that there will be reactions. Tax havens certainly engage in competition, because a tax haven is a business in itself. You need to be creative in the financial market. Think about the state of Delaware and Halifax. These places aren't very far away. Clearly, they aren't going to fall asleep at the switch. Since they have operated a very lucrative business for a number of years, the factors of defence and counterattack are at play. We see it clearly: Canada signs agreements, but does not ratify them. Pardon the expression, but things are "loosey-goosey."
Is Canada not essentially becoming the haven for users of tax havens? Is the transaction that led Scotiabank, whose headquarters are in Halifax, to buy the affiliates of BNP Paribas in Panama, Grand Cayman and Bahamas, not an illustration that Canada is the haven for users of tax havens?