Mr. Speaker, in the most recent budget, the government changed the capital gains tax laws. Instead of including 75% of the capital gains in our taxable income, it has now been reduced to some 66%. That will cost the federal government about $445 million a year and benefit mainly the wealthy people in this country.
An example of that is John Roth and Jean Monty, the CEOs of Nortel and Bell Canada.
Mr. Monty has 440,000 stock options he can cash in. Mr. Roth has 2,990,000 stock options he can cash in. If they were to cash these in they could potentially have additional tax gains of about $14 million next year over last year, thanks to this change and thanks to the government.
What this government is doing now is giving millions to millionaires instead of investing this money in health care, which is exactly where it should be going.