Mr. Speaker, I would also like to congratulate the hon. member for Durham for injecting a very fresh idea into this debate. He and I share something in common in that the agricultural parts of our ridings are farms that are agriculturally valued very differently than farms in other parts of the country.
When a farm is passed on and when there is succession right now, the paper value of the farm far exceeds its value as a working farm. Therefore, it is absolutely essential that the $500,000 exemption continue.
I am just old enough to remember when death duties existed in Ontario and I saw farms being lost to government, farms that had been in families for generations.
The member talks about cancelling the $100,000 capital gains exemption. Does he simply feel that it is too small? Is that his reason for wanting to cancel it and dwell on the $500,000 exemption?