Mr. Speaker, the hon. member raises a good question and one which deserves a full answer.
The answer is that a loss is a loss is a loss. Whether the loss occurred because of a downturn in the economic cycle, whether it became a loss because of poor planning, or whether it became a loss because of poor management, it is still a loss. I do not know that the Income Tax Act actually recognizes why people lost money, but they did in fact lose money.
The only extension is the additional three years and whether the losses that occurred in the previous seven years had to do with poor management, poor planning, or whatever, I think the same losses apply to the previous seven years as do now apply to the additional three years.
I hope that is a response to what was a thoughtful question. The member has literally served on the finance committee for years and years and has made a major contribution to the function of that committee.