I'm saying the exact opposite. The witnesses who appeared before you last week, if I'm not mistaken, said the same thing: Canada is lagging behind. Canada is the one living on an island. If you keep track of what's happening internationally to combat tax havens, you know that the U.S. has quite a leg up on us. In fact, some U.S. multinationals are moving their head offices from the United States to Canada, precisely because of the tax advantages our country offers.
On a small scale, we serve as a tax haven for the U.S., instead of contributing to the broader international dynamic, including the implementation of FACTA by the U.S. and the efforts of the French Republic. France made the disclosure of assets and the number of subsidiaries owned by French banks around the world mandatory in order to better control and track French banking activities in the international arena, including tax havens. There are many examples of countries acting independently and adopting such an approach. I'm trying to convey to the members that Canada is lagging behind, as far as this movement is concerned. It's time for Canada to join the rest of the world on this issue, rather than standing on its own.