I was hoping to make a quick intervention, Mr. Chair.
In terms of having a clean and efficient process, I want to state my objections to the common reporting standards. We heard from many different credit unions both in the pre-budget consultations but also on the review of this bill. It is a big mistake for the government to introduce legislation without having some sort of provision à la FATCA where it allows small credit unions to be exempted if they have less than 2% of their assets being held by foreign nationals. It will cause a lot of angst for credit unions.
I am thinking particularly of not just the smallest credit unions, where obviously the staff will have to spend more time doing paperwork to submit at the federal government's new behest on these common reporting standards, but also other credit unions which are not structured in the same way as the banks where in Quebec, Desjardins, will have to submit hundreds of applications because they have hundreds of locations.
Does one of my other colleagues from the Conservative side want to speak about the doctors? No.
We will be opposing those measures particularly the common reporting standards. Again, the so-called clarification is going to put a lot of good doctors who are doing research across the country in a position where they might just decide to leave for other jurisdictions, or at least it will cause a lot of angst for many of them who will have to restructure their practices in a way that is tax efficient for them.
On those two points, and I'm sure many other things in the budget bill, we're going to abstain or oppose, but we can do many of these on division.