Mr. Speaker, I thank the member for highlighting the elements of the implementation bill.
I am seeking some amplification on one item from the member. It has to do with the corporate tax points on the extension of the non-capital loss carry forwards from, I believe it was seven years to 10 years.
This matter had been discussed for a number of years, even back when I was on the finance committee in the early 1990s. It had to do with whether or not the public was to be on the hook for mismanagement of corporations any further than the seven years. It was a matter of how many years was reasonable to take into account. It could be economic downturn or extraordinary circumstances which businesses were not able to protect themselves against.
There is this question at some point in time that businesses may have made bad business decisions, may have experienced mismanagement, the cost of which effectively would be transferred more to the taxpayers than otherwise would because of the extension.
I wonder if the member could give us a little insight as to why there is the extension to 10 years.