Thank you, Mr. Chair.
Good afternoon, ladies and gentlemen.
Earlier I asked the minister a policy question about tax shelters, and I got a policy-based answer. I brought up Barbados, specifically, where, according to my figures, Canadians have invested $41 billion. As you know, pursuant to legislation passed under the Liberal government, money invested in Barbados is exempt from Canadian taxes.
Now I want an answer based on fact. If you consider just that $41 billion invested in Barbados, how much tax income would we recover if that amount had been invested in Canada?
Can you explain your arguments in favour of that policy? Is there a net benefit for Canada in allowing these tax-exempt investments? It is beyond me. Could you tell me what the benefits are of giving companies that kind of tax exemption?
I am not sure which of you is familiar with those files, but surely one or two of you would know the answers.