Mr. Speaker, I have a quick question for the member for Kootenay—Columbia.
I was listening to his comments about cutting the timber on the ranches and the very real fear among constituents straight across this country from coast to coast to coast of capital gains. There is a misunderstanding of the whole problem of dealing with capital gains and income within a family for future generations. The understanding is that all this capital gains has already been taxed, that we have paid tax on everything we have acquired throughout a life.
Very quickly, I think part of the problem especially in forestry issues is that there is no way the Income Tax Act can accommodate the growth of capital in forest land prior to the 40, 50 or 60 years it takes to produce that fibre. All of a sudden there is a windfall profit and it cannot be claimed in the ensuing 10, 20 or 40-year period after it has been acquired.