Mr. Speaker, the tax relationship with Barbados dates back to 1980.
However the hon. gentleman will know that international business and taxation matters are hugely complex. What is needed to deal with them is a concerted international effort where countries cooperate together with each other.
That is why this past weekend I raised this issue with colleagues in the G-7, specifically with Secretary Snow of the United States and Horst Kohler, the managing director of the International Monetary Fund. We have agreed to work together to find sensible solutions in the international business community.