I listened to the hearing on Tuesday and I heard the comments. I do not believe that the elimination of capital gains on taxable real estate will affect it. The way the conversation went on Tuesday was it seemed like we were talking about the same land, but let me give you examples of taxable real estate. Well, it could be a commercial property in Surrey. It could be a rental property in Toronto, a condominium in Florida. These are not ecologically sensitive. These donations are few and far between but represent significant wealth, particularly in smaller communities, whether they're in Canada or outside Canada. So they're having the broader benefit across the community. I'm a huge believer in the ecologicial gifts program and the importance of land conservation, but I think the greater benefit for the whole sector is unlocking this asset class.
On February 9th, 2012. See this statement in context.