Mr. Speaker, I know the hon. member has only recently taken on the position in his caucus, but I regret to inform him that the bill never said January 1, 2005. That is not correct. The hon. member can go to the first printing of the bill and he will see that was never there. What it did say was January 1, 2004 or six months after proclamation, whichever came later.
As I said in my testimony before committee, the reason we changed it was, for example, if the bill were approved on July 15, that would make it come into effect next January 15. We would have had some contributions at the old rate of return, those who made a donation, and some contributions at the new rate of return. Because our taxation year for individuals is based on January 1 to December 31, it would have been impossible to detect which contributions were made at which time of the year.
In terms of the business of benefiting incumbency, it is actually the opposite of the reality. I know the hon. member was not here, but he may remember after 1993, when his political party virtually disappeared from the map. If a relatively large number of Canadians had continued to vote for that party, this would have ensured stability in the funding of his party even though its parliamentary representation had fallen to a small amount. Therefore, because that party had such support from the voters, it would have reflected itself. It did not benefit incumbency at that time. It would have benefited parties that had lost all their status.