Mr. Speaker, I would like to thank the hon. member for his concern on this very important issue.
The Minister of Finance and I issued yesterday a press release outlining changes to the tax system that will plug loopholes with respect to tax shelters. We are particularly concerned that there are many people who are taking advantage of what were originally set up as legitimate opportunities in high risk areas. They are now taking these opportunities simply to avoid paying taxes.
For example, we have uncovered tax shelters where no business activity was being undertaken and the only thing the individual received in return for their investment was a brochure; that is, the only thing other than a tax benefit of substantial proportions.
We will continue to make sure that the tax system is fair for Canadians and we will make changes as necessary to make sure that all Canadians pay their fair share.