Mr. Speaker, the one point I will agree with the member on is that we certainly do not need, nor do we want, a majority Conservative government in this country because of what will more than likely happen if one ever comes about.
The corporate tax issue and the Liberals' position on it is certainly one that I am a bit confused about. Canada's corporate taxes were around 40% in the past. They dropped down to 18%. They are going to go down to 15% by 2012. That is about 12% lower than the American corporate taxes. It is totally unnecessary to be that low.
In fact, we are really not sure that it is that effective in producing economic growth. For example, business spending on machinery and equipment has declined as a share of GDP and total business investment spending has declined as a percentage of corporate cash flow. Statistics Canada and Finance Canada say that IT use by Canadian businesses is only half of that of the United States and despite Canadian corporate tax rates that are well below those of the United States, productivity growth is actually worse. There is the proof that these corporate tax reductions are not having the effect that they are supposed to have.
In addition, ordinary Canadians are going to be paying four times more in personal income tax than corporations will pay in corporate tax. I seem to recall maybe 20 years ago that those amounts were roughly equal in this country. So, now, ordinary Canadians will be paying four times more than corporations. Because his leader, this past weekend, seemed to change his position on the whole area of corporate taxes, I want to ask him, where is his leader and his party on this issue today?