Thank you, Mr. Chairman.
I see at this committee the Liberals are dusting off some of their campaign rhetoric and doom and gloom scenarios. But it's pretty clear, I would think, Mr. Carney, that if someone, whether it's an individual or a company, is claiming a tax deduction, it should be against tax payable.
As I understand it, the loophole of interest deductibility has been plugged because there's no tax payable at the end of the day. That is why it makes sense financially that if you don't pay tax, you shouldn't have a deduction. Is that a correct analysis?