Mr. Speaker, I would first like to offer my condolences to my colleague, the parliamentary secretary, for her loss.
The Standing Committee on Finance met for many hours to discuss Bill C-45. On most of what we discussed, including the amendments, we were in strong disagreement with the government.
Our view is that the government is headed in the wrong direction. The government is missing out on obvious opportunities to play a positive role in Canada's economy. I do not have a lot of time to ask a question, so I would like to focus on one specific aspect on which we were in disagreement. That was the issue of scientific research and experimental development.
In committee, we heard several witnesses, particularly from the world of business, including the Canadian Manufacturers and Exporters association, which described its concerns about how changes were being made. The government is claiming that investment in private sector research and development has dropped by $500 million, whereas according to Canadian Manufacturers and Exporters, the figure is closer to $633 million. According to the association, this will lead to 18% to 20% less private sector research and development.
Another significant component is the elimination of capital expenditure eligibility for the research and development tax credit. The NDP has accordingly suggested postponing the changes for five years so that the implications could be studied more carefully.
I would like to know why the government is refusing a measure like this one, which would make it possible to study the changes proposed by the government in greater detail.