Mr. Speaker, that is exactly what I was saying. The hon. member, my Liberal colleague, did not read the proceedings of the finance committee, did not read the testimony of the people who appeared before the committee, most of all did not read the auditor general's report and did not read the report of the Liberal majority in the finance committee.
There is a scandal because the economy of the legislation concerning taxable Canadian property-it sounds technical, but that is the objective-the economy of the legislation said this concept, which allowed the transfer of some public corporation assets elsewhere in the world, free of tax, was to be applied only to foreign residents, not to Canadian residents.
The concept of TCA, of taxable Canadian assets, was applied to a Canadian family that transferred $2 billion outside the country and did not pay a cent in taxes. When you talk about the proceedings and the experts who were consulted, as I was mentioning earlier, the six experts your friends claim to be are people who represent rich Canadian families and who allow them to export capital.
I will confront you with 15 experts who have no links with rich Canadian families, academic tax experts, people who know their business, and they will tell you quite the opposite. The auditor general did his job, his interpretation of tax legislation is correct, and it is Revenue Canada's interpretation that is wrong.
The proof of the matter is that Revenue Canada issued a notice in 1985 that said that, in a case such as this one, the TCA, transfers of capital outside the country free of tax, could not apply to Canadian residents. And what is rather strange, in 1991, within a week, during the Christmas holidays, while everyone was celebrating, Revenue Canada's decision was changed following discussions with representatives of rich Canadian families. That is a scandal.
The other scandal is the attitude of the government, of Liberal representatives who, instead of shedding light on this and closing the borders to this flight of rich families' capital, open them wide to favour their friends.