Mr. Speaker, the Liberal government's combination of a weak dollar policy, high corporate and personal tax rates, and a high level of regulatory burden are reducing productivity, restricting growth and reducing the value of Canadian equities.
Liberal policies are making Canadian businesses particularly vulnerable to foreign takeovers. Referred to by some as Canada's corporate fire sale, the list of Canadian companies being taken over is getting larger every week. Just recently, British American Tobacco bought Imasco for a whopping $17.3 billion. Other takeover targets include MacMillan Bloedel, JDS Fitel, Newcourt, Poco Petroleum, MetroNet, Celanese, Discreet Logic and Groupe Forex.
When will the government listen to the IMF and other authorities and make debt and tax reduction priorities, not just afterthoughts? When will the government realize that we cannot devalue our way to prosperity and that Liberal policies are turning Canada into the Wal-Mart of the world?