Mr. Speaker, I was in the process of answering a question posed of me by the finance critic in the Conservative Party about the Tobin tax, the tax on the speculation of currency.
I want to confirm to him that speculation on currency occurs on very small margins. A very small tax on the speculation of currency will sort out speculation around the world, which would be positive in terms of international development in the world community.
A tax on speculation would slow down speculation in the world on currency exchanges. Three years ago the House of Commons passed a motion agreeing that we should adopt the idea of the Tobin tax, a small tax that would slow down the speculation of currency and at the same time build up a huge international development fund. I am sure the finance critic of the Conservative Party, on giving it a second thought, would agree with my position