Mr. Speaker, yes, Virginia, there is a brain drain and overtaxation is to blame. Hurrah, the industry minister has finally acknowledged the role that high corporate taxes play in driving our best and brightest out of Canada. But what is he going to do about it?
Witness after witness appearing before the industry committee's productivity study have called for lower corporate and personal income tax rates. Leading economists, such as Pierre Fortin, have said that the answer to Canada's declining standard of living is to cut taxes and pay down debt. It is very simple: cut taxes and pay down debt.
Clearly it is time for the minister to stand for Canada. It is time for him to put his money where his mouth is and deliver real tax cuts on budget day.