Mr. Speaker, that is an interesting answer. On the heels of the 1994 budget, when the Arthur Andersen accounting firm asked the federal finance minister if the tax treaty with Barbados was still valid, it received the answer, in July 1994, that the proposed change was designed so that a foreign subsidiary based in Barbados would remain eligible for an exemption.
In other words, the Prime Minister closed a number of tax loopholes but left one little gap through which his ship was able to sail, and that gap was Barbados. Will he please explain this?