I agree, but it has to be carefully implemented.
Mr. Murphy, for instance, supported FATCA, the Foreign Account Tax Compliance Act, out of the U.S. in 2010. This is actually a huge controversy, of course, in Canada, and there is a side agreement under way between the Canadian government and the U.S. government. We have, for the first time in our history, an attempt by a foreign government to try to access unilaterally the personal financial information of Canadians.
This is a danger with the implementation of something like automatic exchanges in a haphazard way. There is no way that any foreign government should be able to access our personal information. That's just not the way to go.
So yes, I agree with automatic information exchange. I've written an article that also proposes a multilateral taxpayer bill of rights to protect confidential information that would actually help expedite the automatic information exchange process.