Mr. Speaker, the member has given the answer in her question.
The thing that keeps coming back to me is that piece of literature from the Prime Minister during the last election in which he said that the greatest fraud was a promise not kept. We cannot take these things lightly. Canadians now are more attentive, more alert and more unforgiving for those who do not apologize when they make mistakes or do not correct errors.
A very strange occurrence happened concurrently with the announcement of the taxation of income trusts which was the announcement that there would be pension income splitting. When we look at the calculations, which I would be happy to table or provide to any member would who like them, only about 12% to 14% of seniors actually have pension plans. Income trusts are an instrument that are meant to emulate pension plans so that people get a reasonable stream of income to pay bills. Therefore, offering pension income splitting to 12% to 14% of seniors who are not income trust holders does not offset the damage that was done to these seniors.
That is why the Liberal Party has promised to include in its platform in the next election, whenever that is, that we will remediate the situation with a 10% tax, ultimately only payable by foreign investors in income trusts. It is estimated that two-thirds of the losses of those seniors will be recouped. I believe that is responsible governing.