Mr. Speaker, my question is for the Minister of Finance.
If the Liberal government goes ahead with its planned legislation, wealthy Canadians will be compensated for estate taxes paid in the U.S. under a new agreement signed in August. The agreement is retroactive to 1988 and will cost Canadian taxpayers over $2 billion in compensation, by giving families with estates worth over $600,000 in the U.S. a foreign tax credit in Canada.
Does the minister have the courage to say no to this outrageous legislation, or does the Liberal government plan to create a new $2 billion tax loophole for the wealthy?