Sure it saves people money because they don't have to pay when they deduct money, the interest charges here, and they don't have to pay on the earnings elsewhere. I understand that. I understand that there are many tradespeople and farmers and teachers in this country who would be more competitive if they didn't pay tax too.
What I'm getting at is this. Do you think it's fair to continue to honour a tax treaty after the provisions have changed? In other words, when we signed the tax treaty with Barbados, as Mr. Raizenne accurately pointed out, they had a tax jurisdiction that was generally acceptable by Canadian standards. Now, implicated in your earlier statement, you're saying we should leave it to them to tax the way they want, but in fact we haven't changed the tax treaty subsequent to their making available reduced tax rates of 1% and 2% to corporations, which are now massively relocating there.
Isn't that laissez-faire approach a kind of benign neglect, and isn't it really, in a way, a kind of race to the bottom in terms of the reduced revenue generation capabilities that occur as a consequence?