Mr. Speaker, for the sake of this discussion, it should be pointed out that we have the Liberals to thank for this marvellous tax shelter which they introduced in 1972 for a period of 21 years. It was slated to expire in 1993 and it was the Conservatives who extended it. What the wealthy families wanted was time, and they got plenty of it thanks to the Minister of Finance who came to their defence.
How can the Minister of Finance expect to be a credible defender of family trusts when on April 19, 1993, he rose in this House to vote against the Conservatives' decision to extend the perks enjoyed by wealthy families? What possible reason can the minister give for his complete about-face which will deprive the government of hundreds of millions of dollars each year in tax revenues?