Thank you, Mr. Chair.
I've heard you this morning, as well as my colleague Mr. Sorbara, talk about how the consultation period on the tax changes has come and gone; it ended yesterday. The fact that the majority of our panellists this morning have devoted most of their presentations to this topic, I think speaks to the inadequacy of that 75-day period. I'm going to continue on this theme because it's so extremely important to so many Canadians.
John Forgeron is a constituent of mine who, at age 34, quit a high-paying and secure job, mortgaged his home to the max, borrowed hundreds of thousands of dollars from friends and relatives, basically risked the financial stability of his family and, indeed, had the potential to test family connections by borrowing lots of money from these family members, and went into business. Ultimately, he was quite successful in his business.
He feels insulted and attacked by the very language employed in the tax change proposals. In one of the round tables I held in my constituency, he said that he is exploring setting up in Ontario near the U.S. border in order to better support and grow his U.S. business. He is now looking at Denver, Ohio, or Pennsylvania. The return does not justify putting capital at risk in Canada with the proposed tax changes.
I would like Mr. Hopkins, first, to comment on capital flight.