Thank you very much for the question. I appreciate the opportunity to come back to this, because I think it's an important point.
First, if I've given the impression that I thought we didn't have information relating to our banks, I didn't mean to say that. I don't believe that's true. I think the honourable member has demonstrated that indeed we do have the information on Canadian banks.
My point earlier was that we don't have information on tax evasion, which might mean we don't have information about what foreign banks hold by way of investments from Canadians. But I don't believe that's true in relation to Canadian banks. As their own reports put forward, we do have that.
Point two, I don't think this is a matter of tax evasion. This is a matter of our Canadian banks having operations in Canada and outside of Canada, and in relation to their investments and operations outside of Canada they don't pay current Canadian tax when those operations are subsidiaries. I think that is the same rule that applies in every country in the world. As far as I'm aware, only one country ever sought to tax the business income of foreign subsidiaries, and it has stopped doing that. No one else does. Our system is very much like that.
So I think the characterization of that as tax avoided or even evaded is wrong. It's actually income earned in a foreign jurisdiction and is subject to the tax laws we impose in that jurisdiction.