Thank you, Mr. Chair.
As you will recall, before the 2008 financial crisis, the Superintendent of Financial Institutions required that banks disclose the assets they held in tax havens and report the amount of tax that they thus avoided paying in Canada. That requirement was lifted as a result of the crisis. The purpose of this amendment would therefore be to restore the practice so that banks have an obligation to disclose in their annual reports the dollar amounts of their investments in tax havens.
I hope this will carry.