Mr. Speaker, the Minister of Finance asked the finance committee to look into the problem but not to take a partial look. When will the Minister of Finance start looking out for all Canadian taxpayers, not just Canada's ten wealthiest families.
In its report, instead of plugging the tax loophole that allowed $2 billion to be transferred out of Canada tax free, the Liberal majority on the finance committee throws the door wide open for wealthy Canadian families. It concluded that this scandal was legal, thus upholding a decision made by Revenue Canada that may cost Canadian taxpayers hundreds of millions of dollars.
My question is for the Minister of Finance. Does he recognize that his acceptance of this report, yesterday and again today, flies in the face of the recommendations of the auditor general and allows huge assets to be transferred out of the country by wealthy Canadian families that end up not paying taxes in Canada?