I reiterate a point that I took some time to understand. When we talk about tax havens, what my fellow panellist said is neither true nor false. This is the first stage of reflection. In an era of globalization, we must make sure that the tax context in which Canadian multinational companies operate is competitive compared to what exists elsewhere. If we put an end to the present situation regarding tax havens, and cut off the possibility for multinational companies to conduct business in Barbados, there would be a negative impact because certain multinational companies will seek to do business elsewhere. Globalization is about capital mobility. Even though we've been discussing this for some time now in Canada, it is for this reason that many countries must also take part in the discussion. It is a decision that must result from international discussions, and Canada has a chance to shine. To my mind, of all the countries in the world, Canada is one of the those that should start talking about it.
On May 15th, 2007. See this statement in context.