Mr. Speaker, the hon. member is quite right. The bill's response to FATCA raises obvious concerns about privacy and sovereignty. There was not the kind of consultations that could have avoided those concerns.
This is an element in Bill C-31 that attempts to shield Canadian banks from U.S. financial penalties. It protects Canadian banking information at the expense of those citizens of Canada who find themselves being targeted by FATCA and who are outraged that they would be required to have their banking information shared with the United States.
I think the overall point that my colleague was making is that this government is very well known for its absence of consultation.
I am very happy to hear that the Minister of State for Western Economic Diversification has consulted widely on a complex issue.
That is exactly why it should be in its own bill and not wrapped up in this anti-democratic omnibus budget bill.