Mr. Speaker, the hon. member must be aware of the fact that, with the existing tax system, there is an accelerated deduction of depreciation costs of 33% for ships built in Canada. It is very quick, it is direct depreciation. That means that after four years the buyer of a ship built in Canada can deduct the entire cost of the ship. That is a very generous tax shelter.
In the House of Commons on March 11th, 1999. See this statement in context.