It's no surprise we supported the bill. We were surprised when it didn't go through. Members from all parties, in one way or the other over periods of time, have tried to approach this issue and recognize that the current Income Tax Act was designed a number of years ago, and it doesn't recognize some of the structural changes there are in businesses moving forward.
We would support the committee trying to take even a broader look, as you're suggesting. What are the issues around succession planning, and what type of tax policy do we need to facilitate that? I don't think we can get into a detailed discussion here, because when you start getting into financial and tax policy you can get into the weeds really quickly.
I think there are a number of core principles. One is facilitating the transfer from one generation to another, whether it's from one generation that's a family or another generation that's not a family, recognizing that sometimes corporate structures have to be put in place to make it work, but also recognizing, as I said earlier, that you have retiring farmers and asking if there is a way that tax policy can encourage them to transfer that farm. I think it includes the items that were in the bill you talked about.
However, the whole issue of succession planning and transferring that to another generation is worthy of discussion, to take a look at what kinds of recommendations can be made to government on how to address that. Again, going back to those export targets that were in the budget, we're going to have to make sure that we have a bunch of young farmers who have the ability to go after those targets.