Mr. Speaker, first, let me point out yet again that the vast majority of seniors who the member just described as poor are not investing in income trusts. Nonetheless, I think the question he asked is an important one.
We have been advocating, long before I got to the House, that when the income trusts were created, we needed accountability and transparency. I agree with the member that the Prime Minister perhaps misled Canadians inadvertently by suggesting that income trusts would be safe under his administration.
The reality is seniors made investments based on that campaign promise and then he broke that promise. That is why seniors have lost money in income trusts. Those investments probably should not have been made. They should not have taken him at his word during the election campaign.
Our position has been absolutely consistent. We need accountability and transparency. We are dealing with the retirement incomes of seniors. They deserve to be protected and they deserve the protection of the House.