Thank you, Mr. Chair.
Mr. van Raalte, last spring the committee conducted a study on competitiveness in Canada. In June 2021, parliamentarians took part in a historic vote on a bill that later received royal assent. By the end of June, it'll have been a year since this historic vote took place. By passing Bill C‑208, parliamentarians corrected a tax injustice long-tolerated within the federal government. The bill grants small businesses, particularly family farms and fishing corporations, the same tax rate on the sale of their business whether it is sold to a family member or to a third party.
However, on June 30 and July 19, 2021, the Minister of Finance issued a press release announcing her intention to delay the entry into force of these changes until January 1, 2022, due to concerns with the wording of the bill. It is now June and there has been no update. Ms. Freeland committed to providing further clarification, yet when we asked her about the matter at the Standing Committee on Finance, she was unable to provide an answer.
Can you tell us if you have any clarification on the implementation of this legislation? People are awaiting news. When will that happen?