Mr. Speaker, the topic of my speech is tax treaties, tax havens, and Canadian companies' use of tax havens. When I cite examples that are common knowledge and a matter of public record, I do not expect to be corrected nor sanctioned for pointing those things out.
We owe a great debt to people in the private sector like Professor Léo-Paul Lauzon who are compiling the empirical evidence on the actual experience of our current tax system and the cost to Canadians in allowing this corporate ripoff to continue. This is the biggest corporate giveaway since the railway. It is knowingly and willingly allowing Canadian dollars that should properly be put to use for the benefit of Canadians to fly out of the country.
We are being gouged and ripped off. We look to our federal government for help and support in situations like that. Governments are elected to look after our interests, to put our interests first. Somehow big money has controlled things in Ottawa for so long that not surprisingly all the legislation seems crafted to look after their interests instead of looking after the interests of the ordinary person.
Just once I wish common sense would prevail in this place. Just once I wish reason and logic would carry the day.
I am not an accountant or even particularly bright and I get what is wrong with this. I saw it immediately. Anybody on the Sparks Street Mall would say it is fundamentally wrong to be gouged and ripped off like this. If this were common knowledge, it would make Canadians' blood boil.
It could be simple. Within the parameters of Bill S-17 the government could have introduced tax treaties with Gabon, Ireland, Armenia, Oman, and Azerbaijan and torn up the tax haven with the Barbados. Eliminate it. Get rid of it. Let us do something useful around here. It is the end of the week and it would be delightful to leave on a positive note that we just found $7 billion that knowingly and willingly has been flushed down the toilet for many years but now we can put that money to good use. I can think of any number of positive things the money could be used for in my riding of Winnipeg Centre.
While I recognize the merits of Bill S-17 in terms of the effect it will have on our financial relationship with Gabon, Armenia and Oman, we have been victims of a diversion. We are avoiding the issue of tax avoidance as it pertains to corporate Canada, and we continue to allow Canadians to be ripped off. It is shameful that many companies avail themselves of that.