Mr. Speaker, the Minister of National Revenue would like us to believe that, by suspending the issuance of new advanced tax rulings similar to the case of the $2 billion in family trusts transferred to the U.S. tax free, she was closing the gaping tax loophole denounced by the auditor general. Nothing could be further from the truth. The ruling made by Revenue Canada in December 1991 is still in effect and constitutes a precedent that anyone can use to avoid paying taxes.
My question is for the Prime Minister. Does the Prime Minister admit that his revenue minister's inaction and his government's refusal to investigate this scandal leaves wide open a loophole that can still be used by owners of family trusts or by any millionaire?