Mr. Speaker, everybody in Canada knows that the GST was purely the transfer of a tax burden from corporations to ordinary Canadians. As New Democrats we oppose that sort of transfer of burden from one sector to another.
I would like to ask the member a question pertaining to whether or not the committee reviewed any other alternatives besides just a new name for the GST. For example, there are a number of family trusts outstanding. The total value is about $70 billion that goes untaxed. This is a tax free situation provided to very wealthy families. It was a tax free situation afforded to those people by the former Liberal government for 20 years, extended for 20 more years by the Conservative government, and this government has not done anything with it.
I am wondering whether the committee has reviewed that matter and in particular is looking at some of the transfer of profits from corporations operating in Canada to other countries. The example I use is Imperial Oil. Last year it declared a dividend of $580 million. Of course 70 per cent of its shareholders is the Exxon corporation of the U.S.A and $405 million left Canada through this nice little tricky tax free situation to go into the United States.
We lost a portion of what we believe should rightfully stay here either to work in our economy or contribute to our taxation system. I would like to know whether the government is looking at the situation or whether it considered looking at the approximate 63,000 profitable corporations in Canada with substantial profits that were not taxed a dime on their profits.
I am wondering if the committee considered some of these very important tax sources as opposed to once again going to low income people, middle income people and others who have very difficult financial circumstances to deal with right now with their families and getting along in Canada.