Mr. Speaker, in response to the hon. member's question, the NDP always seem to be envious of the successful. That envy tends to cloud its judgment.
He talked about the banks. I am not sure if the member is aware that banks actually earn money abroad. Over 50% of the profits of some large Canadian banks are earned abroad and come to Canada. Therefore they pay Canadian tax. That money is distributed to Canadian shareholders. That money also reduces the cost of banking in Canada.
I am not arguing for the banks; I am just setting out the facts. To talk about an excess profits tax is a standard line of the NDP, which is envious of the successful. It feels that by taking from them and giving to the poor somehow we would resolve the problem. In thousands of years we have yet to resolve the problem and I do not think the NDP has the answer.
That does not absolve the education industry from its obligation to produce an educated child. Surely that is what it is in business to accomplish. If the industry cannot do it we should ask serious questions about why. Why is it still in business if it continues to produce children who cannot read or operate in a complex world, as the member has so readily admitted?