Mr. Speaker, there were a record number of deficits while the Leader of the Opposition was a member or friend of the Conservative Party.
It is very clear that we, in our last budget, eliminated loopholes such as the $100,000 capital gains exemption. We understand full well that there may have been some inequities in Canada's tax system. That is why we are launching the most open prebudget consultation process ever seen and I hope that the opposition leader's colleagues will, for the first time, offer constructive suggestions.