Mr. Speaker, I can think of several companies in Winnipeg that are very successful because of the income trust format. Let me say that they are concerned right now. They are the pride of Winnipeg. Some of these companies needed the initial capital to get started. They have grown on their own because of their own initiatives and have grown very well.
If we would lose these, and I hope they are not part of the 16 that are now disappearing from the Canadian landscape, it would be sad. These are heroes. These are people who have worked hard to maintain their Canadian citizenship and Canadian ownership.
I think my colleague is absolutely right. It is wrong-headed. Canadians in the end will pay for this. More American firms will be here and more overseas firms will be buying Canadian businesses. It is a sad day for Canada.