Madam Speaker, I hear some chirping opposite.
This goes to the heart of the matter because the motion would in fact turn out to be counterproductive. It would ultimately mean that we would not even see the exempt surplus as it is being repatriated.
If the regulatory change were effective in denying exempt surplus treatment, it would make Canadian businesses less competitive in the global marketplace, or it would simply cause taxpayers to restructure their affairs with no additional benefit to Canada. If the change were not effective due to the treaty clause, it would only serve to create uncertainty for Canadian businesses.
I urge all hon. members in the House to reject the motion. It is counterproductive to Canada's best interests.