Thank you, Mr. McCallum.
As I said earlier to Mr. Pacetti, we laid out our goals for this bill, which is something we all do when we are introducing a private member's bill. We explain our objectives to Legal Services at the House of Commons and to the law clerks, who then draft the bill using their own terminology to ensure it meets the specified needs.
Since 2007, and throughout this whole process, we were never told that the bill did not meet the specific requirements for a tax credit. I studied law—although I did not become a lawyer—and, to be perfectly frank, I think the bill says exactly what it should say, which is that a 22% tax credit will be provided to people who suffer losses as a result of the failure or closure of their employer's company.