Mr. Speaker, I suppose I should let the member from Nova Scotia explain what is good and bad speculation, and what is big and small speculation. I am not sure if he can do that. It is a pretty arbitrary definition of speculation.
The member for Brandon--Souris would know the answer to that. I certainly could not help him there except to say that the vast body of opinion does not share the concern that he has. The vast body of opinion that is looking into this issue thinks that a very small tax would deter the bad speculation, the kind of speculation that wreaks havoc with the different currencies around the world.
We would need to have this tax to be an effective tax along with the co-operation of most of the major financial players in the world. There are only about seven or eight that are really major, such as the European Community, Britain, the United States and two or three others like Japan. This is a means of doing something to curb the speculation in the world, to curb the volatility of the currencies and also to help the international development fund.