Mr. Speaker, the auditor general disclosed today that Revenue Canada has approved a very questionable tax loophole for the rich. The loophole has allowed $2 billion of assets from family trusts to leave the country tax free.
My question is for the Minister of Finance. Why did the government take two and a half years to close a secret loophole that has cost hundreds of millions of dollars in lost revenues while refusing to back off one inch on the GST?