Mr. Speaker, on the interest deductibility question, the member will know that the United States, Japan and Europe all provide interest deductibility. The member also knows that Canada has enjoyed interest deductibility for over 30 years.
I have not seen the analysis myself, but I am told that should Canadian companies lose the opportunity to deduct interest on foreign acquisitions, it will put them in a position where other countries that have that opportunity will have a 37% bid advantage. In other words, they can pay 37% less and still have the same outcome. Without the deductibility, Canadians could not possibly be competitive in terms of international trade and competitiveness.
Why is it that the member wants to put Canada at a disadvantage to the United States, Japan and Europe? What is the explanation?