Mr. Speaker, some time ago, the auditor general drew the attention of lawmakers to decisions regarding the transfer to the United States of funds worth at least $2 billion which were held in family trusts in Canada.
These 1991 decisions did not reflect the legislator's intent. The legislator's intent is first and foremost to protect the tax basis against possible erosion. This was not the case. Regardless of diverging opinions and decisions, the fundamental principle which is the protection of Canadian taxpayers was clearly set aside.
The operation which frustrated the legislator's intent and the lack of documentation and analysis regarding the adoption of such significant positions fly in the face of the principle of tax fairness. We are concerned and perplexed by the non-publication of these decisions over at least the past four years, and this will have to be looked into.