Mr. Speaker, the rash Conservative promise never to tax income trusts has gone up in smoke and with it $25 billion in savings. What is worse is the Conservatives were warned about the implications of the promise before they made it.
The Conservatives and their finance critic last year, while in opposition, were privy to briefings from the department and privy to witnesses who came before the committee and said that such a promise would send income trusts spinning out of control. The entire public policy discussion was posted on the finance department's website.
Why does the minister not do a full monty and come clean with the Canadian public?