Mr. Speaker, I will answer the question as asked concerning the reasons for not having one. I interpret this question to be not related to the budget, but simply seeking information.
The reason is that we in Canada, unlike other countries, have deemed capital gains disposition on death, which roughly equates to an inheritance tax. Another reason is that we have much higher property taxes than do many other countries. It is felt that does the case. Also, the principal interest most Canadians have is their main residence, which as the hon. member knows, is not subject to capital gains tax and would not be subject to any kind of a wealth tax.