Mr. Speaker, I am pleased to confirm, as I did this morning, that our government will maintain its commitment with respect to the double deduction of interest by some multinational corporations in Canada that use tax havens obviously outside Canada. This is a form of subsidy by Canadian taxpayers of corporations using a loophole for tax avoidance. We are opposed to that. It is contrary to the principle of tax fairness. We are levelling the playing field so that we can lower taxes, not only for Canadian individuals but for their families and for corporations as well.
In the House of Commons on May 14th, 2007. See this statement in context.