Mr. Speaker, I listened to the member opposite. He brought up the issue of the Tobin tax. I have to say it is terribly typical of members of his generation in this House who talk about issues long on sentiment but very short on practicality.
Yesterday we passed a private member's motion with respect to supporting a Tobin tax, which is a global tax on financial transactions. I have to say that many of the members on my side of the House supported the motion. I did not.
I did not because anyone should realize that the only way this financial transaction tax can ever work is if every country that has a financial transaction market gets on side, everyone. The United States, Europe, the Cayman Islands, everyone has to get on side otherwise the money, the transactions will just flow to wherever there is no tax.
I suggest to the member that here again we have a do good notion that raises expectations. Just as the member said, it is such a great thing, it will solve the world's problem, but he ignores the fact that it can never be implemented. We in parliament should be dealing with issues that are possible with things that can be done, not with simple dreams that look good in the public and perhaps will win the member a few votes. That is not where we should be at.