Mr. Speaker, the commitment of course was to support financial security for seniors in Canada and what we saw this year was an acceleration of the creation of income trusts.
There were more than $70 billion worth of income trusts announced this year alone. Not only did we have this acceleration of income trusts, we also had the reality that income trusts were entering into active areas of business requiring investments in technology, machinery and equipment, particularly in the telecommunications sector. This presented a clear and present danger to the health of the Canadian economy.