Mr. Speaker, my question is for the Minister of Finance.
In his May 1996 report, the auditor general has brought to light the fact that $2 billion's worth of family trusts had been transferred to the United States free of tax. The Minister of Finance reacted to this report by asking the Standing Committee on Finance to consider amendments that could be made to the Income Tax Act to prevent this kind of thing from ever happening again.
Does the minister acknowledge the fact that all the Standing Committee on Finance has been asked to do is to review the specific provisions of the Income Tax Act mentioned by the auditor general and make recommendations to prevent another scandal?