All right. I am going to move directly to our recommendations.
They are as follows: pressure the banks to close down their subsidiaries and branches in tax havens; impose stiffer penalties on those guilty of tax evasion and their advisors, which would provide a stronger deterrent than current, apparently ineffective, penalties; devote the necessary resources to determining the extent of tax evasion in Canada today, as the Canada Revenue Agency says that it does not have this information; repeal the rules allowing tax-privileged entities in countries that have signed tax agreements with Canada to return income to Canada duty-free; eliminate tax breaks given to executives for stock options; make the advisory vote on executive compensation mandatory.
I would just like to conclude by saying that the fight against tax havens and for tax fairness will be long, difficult and onerous. It must be part of a larger societal debate. Can we continue to tolerate two tax systems—one, soft and lax, for the haves, and another, rigourous and merciless, for the have-nots? This debate must not become lost in what is technically legal or dismissed as inexorable fate. The only fate is the one we accept.
Thank you.