Mr. Speaker, I have listened very carefully to the comments by the member for Scarborough Centre. I do not disagree for a moment that many Canadians were very upset with the reversal of the Conservative position set out during the election with respect to income trusts. It has to be regretted that many people were harmed by that.
In fact, some of the biggest and wealthiest of the corporate elite in Canada tell us that there will be massive financial implications for them in the double-cross of the Conservatives. However, it is also appropriate for us to note that modest income people, in some instances, particularly seniors, have been hurt by that.
Without any hesitation, the New Democratic Party, which has had a long-standing position on this issue, absolutely and clearly committed to a phasing out, in a responsible way, income trusts. It is a position that I and my party stand behind. The rationale for that position was not only set out very well by the NDP finance critic, the member for Winnipeg North, but also by witness after witness before the finance committee.
How can the hon. member for Scarborough Centre and his party completely ignore all of that accumulated evidence? Why does his party not recognize that there is a massive, well-funded lobby being conducted now by the corporate elite around this issue because of their own immediate interests, not the long term financial interests of either Canadian corporations or the Canadian economy at the heart of their position?