Mr. Speaker, the hon. member for Rosemont—Petite-Patrie is talking about special tax systems for banks.
I find that especially difficult to understand because when the OECD did its review of all the OECD countries in terms of any harmful tax policies, it singled out the international banking centres and the tax treatment of those here in Canada. Those apply to the international banking centres in Montreal and Vancouver.
I will tell everyone the history of those centres. Those centres were set up because of lobbying pressure from the province of Quebec, and probably the deputies opposite and the Parti Québécois, to set up an international banking centre regime in Montreal and, likewise, some pressure to set up an international banking centre in Vancouver because they could not effectively compete with the strength of the banking centre in the city of Toronto. The government, perhaps in its wisdom, decided to give Montreal and Vancouver a chance. Does anyone know what Montreal did? It did not use it very effectively. It hardly used it at all, so it was a wasted effort.
On the one hand they talk about the special tax treatment for banks and, on the other hand, this is the very treatment to which the OECD objects. I wonder if the member for Rosemont—Petite-Patrie is aware of that provision, and if he would come clean to the House.