Mr. Speaker, I can advise the hon. member that all developed countries work to minimize tax avoidance. Some countries do it in one fashion and other countries do it in another fashion. International tax treaties and tax arrangements dovetail. Of course, there are always changes. Whereas one country might allow a deduction in one area, it might tax in another area. We have to look for a relative balance and parity in taxation measures between and among people active in the global marketplace. The member can be sure that we are working on that all the time.
With respect to the purported losses on income trusts, Jack Mintz of the Rotman School of Business said this year that the Liberals are creating market uncertainty by extending false hopes to investors. The Liberals need to take yes for an answer. We have dealt with it and they should support it.
The Globe and Mail said that Toronto Dominion Bank data comparing the selling prices of 16 trusts now in play to their value before the tax was imposed basically say that firms are offering to buy our trusts for an average premium of about 30% above the prices the trusts were trading at before the tax announcement.
Time does not permit me to read the other commentary on this, but I would be happy to show my hon. friend. The bottom line is that this has not caused huge harm to the vast majority of investors. In fact, some of them will actually make money from these new arrangements.
We need to be fair and balanced when we address these issues. I urge the Liberals to do so.